Couche-Tard's Friendly Bid for Seven & i
Alimentation Couche-Tard Inc., the Canadian convenience store giant, has made it clear that they intend to pursue a friendly acquisition of Seven & i Holdings Co., the parent company of Seven-Eleven Japan Co.
"We don't want to be hostile. That's not our plan," Alain Bouchard, founder and executive chairman of Couche-Tard, stated during an interview. "We want to be friendly."
Couche-Tard, which operates stores under the Couche-Tard and Circle K brands in North America, initially proposed to purchase Seven & i for approximately 6 trillion yen ($39 billion) in August. However, Seven & i rejected the offer, claiming it significantly undervalued the company. In response, Couche-Tard increased their offer by 1 trillion yen in September.
Despite the revised offer, Seven & i is currently considering taking the company private through a management buyout. This has led to speculation about whether Couche-Tard will further increase their purchase price to counter this move. However, company president and CEO Alex Miller remained tight-lipped on the matter, emphasizing that their current offer is "the most compelling one."
The outcome of this potential acquisition remains uncertain. However, Couche-Tard's insistence on a friendly approach suggests they are committed to finding a mutually agreeable solution.