2 months ago
8
The BBC is reporting that the Japanese owner of convenience store chain 7-Eleven has rejected a US $38 billion takeover bid from Canadian rival Alimentation Couche-Tard.
In a letter addressed to the prospective buyer, 7-Eleven says the offer grossly undervalued the company and was fraught with regulatory risk.
The 7-Eleven owner added, however, that it remains open to negotiations and ready to consider a better proposal.
If successful, the buyout would create a 1-hundred thousand-strong global convenience store giant.
Alimentation Couche-Tard, which is based in Quebec, runs around 17-thousand shops across North America, Europe and Asia under the Circle K and Couche-Tard brands.
English (US) ·