Owner of 7-Eleven rejects $39bn takeover offer from Canadian rival
by Mark Sweney from US news | The Guardian on (#6QH3N)
Japanese group says Couche-Tard plan undervalues firm, but leaves door open to higher offer
The parent company of the global convenience store chain 7-Eleven has rejected a near $39bn (29.6bn) takeover offer from a Canadian rival, arguing it grossly undervalues" the company.
Last month, Tokyo-based Seven & i revealed that it had received a bid from Alimentation Couche-Tard setting the scene for what could be Japan's biggest ever foreign takeover.
Continue reading...