(RTTNews) - Canadian convenience store multinational Alimentation Couche-Tard (ANCUF.PK, ATD_B.TO, ATD_A.TO) said Sunday that it remains highly focused on consummating a transaction with Seven & I Holdings Co., Ltd (SVNDF.PK, SVNDY.PK), the Japanese owner of convenience store chain 7-Eleven. Couche-Tard is ready to engage in collaborative and friendly discussions to maximize value for Seven & I and its shareholders.
Recently, Seven & I Holdings rejected a $14.86 per share, or $38 billion, takeover bid from Alimentation Couche-Tard, stating that the offer 'grossly' undervalued the company and would raise regulatory concerns.
Alimentation Couche-Tard announced Sunday that it, along with 7&i, would jointly consider any necessary divestitures to secure regulatory approvals. Additionally, it has obtained a letter from its financial advisor affirming strong confidence in arranging the financing for the proposed transaction.
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