The operator of 7-Eleven in Japan has received a takeover offer from Alimentation Couche-Tard, a Canadian convenience store giant.
According to a statement released by Seven & i Holdings Co., the parent company of 7-Eleven Japan, Alimentation Couche-Tard has proposed to acquire all of its outstanding shares for a total of 2.2 trillion yen (approximately $20 billion USD).
This offer comes after months of speculation about a potential merger between the two companies. Seven & i Holdings Co. had previously rejected a similar offer from Alimentation Couche-Tard in February, stating that it was not in the best interest of its shareholders.
However, the latest offer from Alimentation Couche-Tard has been deemed more favorable by Seven & i Holdings Co., with the company stating that it will “carefully consider” the proposal and make a decision in a timely manner.
If the takeover is successful, it would mark the largest acquisition by Alimentation Couche-Tard to date and would significantly expand its presence in the Asian market. 7-Eleven Japan currently operates over 20,000 stores in the country, making it the largest convenience store chain in Japan.
The potential merger has also sparked concerns among franchise owners of 7-Eleven Japan, who fear that the acquisition could lead to changes in the company’s business model and operations.
Both Seven & i Holdings Co. and Alimentation Couche-Tard have yet to release further details about the proposed takeover. However, the news has already caused a stir in the business world, with shares of Seven & i Holdings Co. surging by 7.5% following the announcement.
This is a developing story and we will continue to provide updates as more information becomes available.
