(Bloomberg) -- Now that Alimentation Couche-Tard Inc. has signaled its willingness to raise the price for its takeover proposal for Seven & i Holdings Co...
-- Now that Alimentation Couche-Tard Inc. has signaled its willingness to raise the price for its takeover proposal for Seven & i Holdings Co., the pressure is on the Japanese retailer to show that it can command a higher number, whether in negotiations or through its own efforts.Although the 7-Eleven operator asserted last week that Couche-Tard’s initially indicated price of $14.
The deal four years ago to acquire the Speedway gasoline-station network from Marathon Petroleum Corp. for $21 billion was aimed at accelerated its goal of making convenience stores a global business. There, Seven & i plans to use cost savings to deliver growth of more than 20% in net income for its North American operations through the five years through fiscal 2025, which ends March 2026.
“The Board is confident that it can realize and unlock shareholder value through a number of strategic actions, including but not limited to our US business, that we are actively pursuing,” wrote Stephen Dacus, the chair of the committee of independent board members that reviewed Couche-Tard’s initial approach.
Alimentation Couche-Tard Inc. 7-Eleven Aizawa Securities
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