7-Eleven parent rejects acquisition proposal from Canada-based convenience store giant

Published On Sep 6, 2024, 9:02 AM

The parent company of 7-Eleven, Seven & i Holdings, has unanimously rejected a preliminary acquisition proposal from Alimentation Couche-Tard, which operates Circle K convenience stores. Couche-Tard's proposal involved acquiring Seven & i for $14.86 per share. Seven & i's board believes the offer undervalues the company and does not adequately address potential regulatory challenges related to the acquisition. The board expressed willingness to consider future proposals that better reflect its intrinsic value and address regulatory concerns.