Couche-Tard Not Giving Up on Bid to Acquire 7-Eleven’s Owner
- CEO says retailer will continue its ‘friendly approach’
- Company reported adjusted earnings per share of 74 cents
A Circle K convenience store in Toronto, Ontario, Canada.
Photographer: Laura Proctor/BloombergThis article is for subscribers only.
Canadian convenience store and fuel retailer Alimentation Couche-Tard Inc. remains committed to snapping up its Japanese rival Seven & i Holdings Co. despite a new management buyout proposal valued at about $58 billion.
“We will be persistent and continue our friendly approach to creating what we see as the most compelling outcome for all shareholders, employees and key constituencies of both companies,” said Couche-Tard’s Chief Executive Officer Alex Miller in a conference call with analysts Tuesday.