Seven & i shares reverse course on regulatory concerns over Couche-Tard's bid

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Seven & i shares reverse course on regulatory concerns over Couche-Tard's bid - Channel News Asia

Quick Summary:

TOKYO :Shares in the 7-Eleven owner, Japan's Seven & i, reversed course on Tuesday, as investors weighed up regulatory hurdles to a takeover bid from Canada's Alimentation Couche-Tard to create a convenience store giant with almost a fifth of the U.S.market.

While the value of the preliminary proposal by Couche-Tard, which owns Circle-K, has not been disclosed, it would make the 7-Eleven parent the largest-ever Japanese target of a foreign buyout.

The Canadian company confirmed a "friendly proposal" was sent to Seven & i, adding it was focused on reaching a mutually agreeable transaction.