Consumer
Seven & i CFO Says Buyout Proposals Still Lack Sufficient Detail
- Shareholder meeting in May seen as key inflection point
- Retailer’s operating profit declined from a year earlier
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A special committee of Seven & i Holdings Co.’s board is still considering takeover proposals by Alimentation Couche-Tard Inc. and the founding Ito family, although it doesn’t have enough information to evaluate them, Chief Financial Officer Yoshimichi Maruyama said.
“We are considering all options, and whether they are feasible,” Maruyama said after the Japanese operator of 7-Eleven stores reported quarterly results Thursday. “Both proposals have hurdles to make an acquisition possible. We haven’t received details of those solutions, so the ball is on the side of those proposing buyouts.”