7-Eleven owner rejects $38bn buyout offer

Published On Sep 5, 2024, 10:37 PM

The Japanese owner of 7-Eleven, Seven & i Holdings, has rejected a $38 billion buyout offer from Canadian rival Alimentation Couche-Tard, citing the offer as being too low and laden with regulatory risks. The company expressed its willingness to negotiate a better proposal, highlighting its belief that the offer undervalues 7-Eleven and its potential to enhance shareholder value. This rejection comes at a time when the Japanese yen is weak, making 7-Eleven seem more attractive to foreign buyers. There are concerns about significant hurdles regarding U.S. regulatory approval for such a deal.