Posted on 08/20/2024 5:10:27 AM PDT by Red Badger
The Canadian owner of Circle K convenience stores has made a bid to buy 7-Eleven in what would be the biggest foreign takeover of a Japanese company on record and the largest cross-border acquisition this year.
In a statement Monday, Seven & I Holdings, the operator of 7-Eleven, confirmed it had received an offer from Canada’s Alimentation Couche-Tard to acquire all of its outstanding shares.
Seven & I said it had formed a “special committee” to evaluate the proposal and that no decision had yet been made.
“The special committee intends to conduct a prompt, careful, and comprehensive review of the proposal, the (Seven & I’s) stand-alone plans, and other alternatives for enhancing corporate value, after which a response will be made to (Couche-Tard),” it added.
Couche-Tard confirmed what it called a “friendly” proposal to acquire Seven & I, but said “there can be no certainty” that a deal will be struck. “The company is focused on reaching a mutually agreeable transaction,” it added in a statement. It did not disclose financial details.
Shares of Seven & I closed almost 23% higher in Tokyo Monday, pushing the company’s market value above $38 billion. That suggests a deal value in excess of any other foreign-led takeover in Japan since Dealogic started collecting data in 1995. It would also be the largest cross-border takeover globally in 2024, according to Dealogic.
(Excerpt) Read more at cnn.com ...
I don’t know what a ‘Casey’s’ is.................
I Googled Casey’s and see they just bought CEFCO which we do have. We also have WaWa, Buckey’s, Tom Thumb/Cumberland Farms (owned by Kroger) and some smaller chains............
Casey’s General Stores, Inc is another US convenience store chain operator.
https://finance.yahoo.com/quote/CASY/
I Googled Casey’s and see they just bought CEFCO which we do have. We also have WaWa, Buckey’s, Tom Thumb/Cumberland Farms (owned by Kroger) and some smaller chains............
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right. Casey’s acquired CEFCO recently which represented a big chunk of the convenience store market.
CEFCO is big here......................
Casey’s is Iowa based and built on serving small towns. Top 10 pizza sales and around 3rd largest convenience chain.
Iowa also has the chain with the immortal name Kum&Go.
But do they have “Piggly-Wiggly” or a “Hoggly-Woggly”?............
casey’s was midwestern & founded in Iowa & surrounding states.
they run a clean operation like circle k’s
after casey showed their willingness to buy market share, circle K may have felt like they better go big or go home??
They may merge...........That is usually the pattern.....................
they’ve got a deal going kinda like walgreens & CVS where they are building casey’s right across the street from a circle k.
The ones in the Philippines are good too! You can get real food, prices are good, and they’re always open.
It’s a pizza joint with gas pumps and a convince store.
Thanks.
I never caught that.
7-Eleven sushi?
When they first started, they opened at 7 am and closed at 11 pm, no?
They convinced the Chicago White Sox to start their night games at 7:11 p.m.
I’ve never been to the Philippines. I do have filipino/a colleagues and they all tell me that, while Manila is a Mega-city one, the rest of the philippines is lovely
I only found out about it when I visited Japan in 2017.
yes. And a lot more - salads, sandwiches, whole meals etc. and very tasty AND healthy. I was extremely surprised.
If they bring that same level to parts of the USA, we would end up with healthier eating options
Beautiful country with breathtaking poverty.
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