TOKYO (Reuters) – Alimentation Couche-Tard isn’t contemplating a hostile takeover bid for Japan’s Seven & i, the enterprise every day quoted the Canadian suitor’s chairman and co-founder, Alain Bouchard, as saying.
In an interview with Japanese media performed in Canada on Thursday, Bouchard stated a hostile bid “was not amongst components being thought of,” indicating the corporate’s intention to safe an amicable acquisition deal, the Nikkei reported.
Couche-Tard, which competes with Seven & i within the North American fuel station market, in August made an preliminary bid to take over the Japanese retail large. It later raised its provide to $47 billion, in what can be the largest-ever international takeover of a Japanese firm.
Seven & i, which operates greater than 80,000 7-Eleven comfort shops world wide, is caught in a three-way tug-of-war between Couche-Tard, Seven & i’s founding household, which is proposing a administration buyout, and firm administration who say their development plan can improve worth.
Requested whether or not Couche-Tard may elevate its bidding value additional, CEO Alex Miller, who additionally attended the interview, stated: “The present proposed value is engaging for all stakeholders.”
