Canada’s Alimentation Couche-Tard said it remained “highly focused” on pressing ahead with a takeover of Seven & I Holdings, despite a rejection of its near $40bn preliminary offer by the Japanese convenience store giant.
In a statement on Monday morning, Couche-Tard said that it was prepared to enter into “collaborative and friendly discussions” with 7&i for a deal that would, if completed, be the biggest buyout of a Japanese company by a foreign company.
Shares in 7&i, which have been strongly boosted since Couche-Tard’s offer emerged in mid-August, jumped almost 3 per cent in early Monday trading.
Last week, a 7&i special committee set up to examine the bid had unanimously rejected the Canadian company’s approach, a proposal it said significantly undervalued the Japanese company.
https://www.ft.com/content/971fb1f4-b94d-4a94-81ed-7ae66b067da2
