7-Eleven shares soar on reports of new Couche-Tard takeover offer

Published On Oct 8, 2024, 9:47 PM

Shares of Seven & i Holdings, the owner of 7-Eleven, surged following news that Alimentation Couche-Tard has made a new takeover offer that values the company at over $47 billion, approximately 20% more than the previous offer. Although Seven & i previously rejected Couche-Tard's offer citing undervaluation and regulatory challenges, this new proposal has led to a notable increase in its stock price. The potential acquisition could significantly expand Couche-Tard's footprint in North America.