Seven & i pushes back against Couche-Tard's reasons for deal talks ending
Couche-Tard said last week that it was ending a yearlong effort to buy Seven & i Holdings Co. Ltd., saying there had been no sincere or constructive engagement from the Japan-based company over a potential deal.
Seven & i's special board committee said in a letter issued Tuesday that Couche-Tard made 'highly misleading' claims as it ended its efforts, and that Seven & i consistently engaged in good faith.
It says that from the start, Couche-Tard didn't take competition concerns seriously, and didn't present a credible plan as to how those concerns would be addressed.
Given the scale of the two convenience store chains, Seven & i noted that regulators would likely require they make a 'very significant divestiture' before approving a deal, but Couche-Tard was not able to provide a plan on who could be the buyer or how such a deal would work.
Seven & i also pushed back against the characterization that its governance was not up to the task, and suggested that Couche-Tard perhaps did not properly understand the Japanese market.
Monday Mornings
The latest local business news and a lookahead to the coming week.
This report by The Canadian Press was first published July 23, 2025.
Companies in this story: (TSX:ATD)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
3 minutes ago
- Winnipeg Free Press
S&P/TSX composite index dips while U.S. markets mixed
TORONTO – Canada's main stock index was down in late-morning trading Thursday amid a flurry of earnings and economic data while U.S. markets were mixed. The S&P/TSX composite index was down 61.75 points at 27,308.21 as energy, telecom and financials trended lower. In New York, the Dow Jones industrial average was down 105.08 points at 44,356.20. The S&P 500 index was up 15.47 points at 6,378.37, while the Nasdaq composite was up 119.72 points at 21,249.40. The Canadian dollar traded for 72.24 cents US compared with 72.41 cents US on Wednesday as Statistics Canada data showed the economy shrank in May but growth could hold flat for the quarter overall. The September crude oil contract was down US$1.18 at US$68.82 per barrel. The December gold contract was down US$5.30 at US$3,347.50 an ounce. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 31, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Global News
an hour ago
- Global News
How Trump's de minimis exemption rule change will hit Canadian businesses
U.S. President Donald Trump is ending a key exemption to his tariffs — the de minimis exemptions — and experts say the move could hurt small business owners in Canada. Under an executive order signed by Trump on Wednesday, packages valued at or under US$800 sent to the U.S. from outside of its postal network will now face 'all applicable duties' starting Aug. 29, the White House said. 'The de minimis tariff exemption is a provision in U.S. law whereby shipments of $800 or less are eligible for duty-free treatment as well as exemption from formal entry requirements,' said Christine Abely, an assistant professor at the University of New Hampshire's Franklin Pierce School of Law. 'Direct sellers who regularly send shipments of $800 or less from outside of United States to U.S. consumers will likely be the most impacted by this change, since they will now have to pay tariffs to the U.S. government on such shipments,' said Abely, who specializes in U.S. international trade law. Story continues below advertisement The tariff rate on these low-value packages will depend on what Trump has imposed on the product under the International Emergency Economic Powers Act (IEEPA), Abely said. 'These [de minimus] exemptions make low-value transactions up to US$800 easier and cheaper — but mainly easier, because the paperwork is minimal,' said Ulrich Paschen, who teaches at the Melville School of Business in B.C.'s Kwantlen Polytechnic University (KPU). 0:58 Carney says U.S.-Canada tariff negotiations 'may not conclude' by Aug. 1 How will it hit Canada? De minimis exemptions allow low-value Canadian exports to enter the U.S. duty-free, with minimal customs paperwork, said Daniel Snow, managing partner at Ontario-based Traffix Logistics. Story continues below advertisement These exemptions play a crucial role in facilitating fast and affordable cross-border shipping for Canadian e-commerce merchants, especially small businesses and independent sellers, he said. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Niche manufacturers, including producers of artisanal foods, customized apparel, and specialized components like 3D-printed parts, would be especially vulnerable due to their slim profit margins,' Snow said. 'For example, an artisan selling $50-$200 handmade items on Etsy would suddenly have to navigate duty collection and compliance hurdles that didn't exist before,' he added. Paschen said that while the move is chiefly aimed at direct Asian importers like TEMU, Shein, or vendors on platforms like Alibaba, it will also impact First Nations businesses in B.C. 'Any kind of Canadian artisanal or craft business that sells directly to consumers — people sending Cowichan sweaters would be a prime example,' he said. The impact would be spread across many kinds of small businesses, Snow said. 'Niche food producers selling specialty items like maple syrup or curated snack boxes would see their already tight margins squeezed. Independent bookstores and small publishers sending a single $30 book across the border would find themselves priced out of the U.S. market,' he said. In addition to adding to the paperwork burden on small business owners, this change 'would fundamentally alter the North American e-commerce landscape,' Snow said. Story continues below advertisement He said this would leave small businesses with few options. Some would be able to absorb the cost or pass it on to American consumers. Others would have to either consolidate shipments with other businesses to save shipping costs or exit the U.S. market altogether. 'This would likely lead many smaller businesses to exit the U.S. market altogether, shifting market share toward larger firms with the resources to absorb these changes,' he said. — With files from Reuters
The Market Online
2 hours ago
- The Market Online
TSX futures post tariff-timid gains
TSX futures inched into the black before Thursday's market open lifted by positive earnings from tech giants Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT), as well as hope towards more trade deals meeting US President Trump's August 1st deadline for reciprocal tariffs, following South Korea's 15 per cent tariff, down from 25 per cent, finalized on Wednesday. This content has been prepared as part of a partnership with Meta Platforms Inc., Microsoft Corp. and TC Energy Corp., and is intended for informational purposes only. Market Numbers (Futures) TSX: Up (0.07%), 27,389.11. TSXV: Down (0.96%), 770.13 (from July 30). DOW: Up (0.15%), 44,736. NASDAQ: Up (0.48%), 23,776.25. FTSE: Up (0.65%), 9,179.19. US President Trump set new 50 per cent copper tariffs in motion for August 1st that exempt Canadian-made concentrate, anodes and cathodes, a catalyst that is likely to result in upward share-price pressure once the trading day gets underway for top names in the space. According to Natural Resources Canada, the US accounted for 52 per cent of Canadian copper exports in 2023. In other commodity news, North American natural gas leader TC Energy (TSX:TRP) posted robust Q2 2025 financial results, as highlighted by higher net income year-over-year, as well as a C$100 million increase in expected 2025 EBITDA to between C$10.8-C$11 billion, driven by C$8.5 billion in new capital projects entering into service this year. Currencies US: Down (0.09%), US$0.72. Euro: Down (0.21%), €0.632. GBP: Up (0.13%), £0.546. AUD: Down (0.07%), $1.121. JPY: Up (0.34%), ¥108.30. Bitcoin: Up (0.51%), US$118,438.30. (Conversion to C$1) Commodities Natural Gas: Up (0.13%), US$3.02. WTI: Down (0.84%), US$69.70. Gold: Up (0.91%), US$3,305.68. Copper: Down (0.2%), US$4.33. To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying about the market open for July 31, 2025, on Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
