Couche-Tard's Friendly Bid for Seven & i
Alimentation Couche-Tard Inc., the Canadian convenience store giant, has made it clear that its pursuit of Seven & i Holdings Co., the parent company of Seven-Eleven Japan, will remain amicable.
"We don't want to be hostile. That's not our plan," stated Alain Bouchard, founder and executive chairman of Couche-Tard, during an interview. "We want to be friendly."
Couche-Tard, known for its Couche-Tard and Circle K brands in North America, believes a combined entity would be a powerful force in the convenience store industry. "This industry needs a big champion, and we want to be the champion with Seven-Eleven," Bouchard emphasized.
The initial offer of approximately 6 trillion yen ($39 billion) made in August was rejected by Seven & i, who deemed it insufficient. Couche-Tard responded by increasing their bid by 1 trillion yen in September.
Seven & i is currently exploring the possibility of going private through a management buyout, raising questions about whether Couche-Tard will further increase their offer. Company president and CEO Alex Miller remained tight-lipped on the matter, simply stating that their current offer is "the most compelling one."
The outcome of this potential acquisition remains uncertain, with Seven & i's decision and Couche-Tard's next move yet to be revealed.