Seven & i Shares Fall Amid Report It May Reject Buyout Offer
The rejection means the Japanese operator of 7-Eleven convenience stores will seek to convince investors that the company can deliver on calls to boost its valuation on its own.
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Seven & i Holdings Co. shares failed to erase losses even after the company denied a media report that it was rebuffing a $47 billion takeover approach by Canada’s Alimentation Couche-Tard Inc.
The operator of 7-Eleven convenience stores is still having constructive discussions with Couche-Tard, the company said in a statement Tuesday. “We will continue to carefully examine all strategic options, including Alimentation Couche-Tard’s proposal, in order to realize value for our shareholders,” the retailer said.