7-Eleven's parent company rejects takeover proposal, says offer 'grossly undervalues' company

Published On Sep 5, 2024, 11:53 PM

7-Eleven's parent company, Seven & i Holdings, has turned down a $38.6 billion acquisition bid from Alimentation Couche-Tard, indicating that the offer undervalues the company's potential. Seven & i expressed concerns that the proposal did not adequately address challenges associated with U.S. antitrust regulations. The company has been pursuing a restructuring plan to bolster its global footprint and divest less successful parts of its business, making them resistant to offers that would undermine their growth trajectory.