Latest news with #AlainBouchard
Japan Times
27-05-2025
- Business
- Japan Times
Seven & I shareholders back new board to deal with takeover proposal
Seven & I Holdings shareholders approved a new board at a low-key annual meeting, despite the drama surrounding a company facing a takeover proposal by Alimentation Couche-Tard, the operator of Circle K stores. Although some of the roughly 800 in attendance on Tuesday criticized the board's revamp and compensation, all of the company's proposals passed. Tallies are usually disclosed at a later date. Investors appear to be willing to see what happens with the radical overhaul, which the Japanese retailer had pledged to counter Couche-Tard's ¥7.39 trillion ($51.5 billion) approach. That effort is being led by new CEO Stephen Dacus, who presided over the meeting. While Seven & I has been slow to engage with its Canadian suitor, the operator of 7-Eleven stores has recently signed a nondisclosure agreement (NDA) to share financial data with Couche-Tard. It has also agreed to explore a sale of 2,000 overlapping North American convenience stores — a prerequisite to resolve any antitrust concerns. These steps appear to have been enough to put shareholders into wait-and-see mode. 'We will continue to provide information on progress to our shareholders while complying with the NDA,' Ryuichi Isaka, the outgoing CEO, said at the meeting. 'We will continue to compare and evaluate our plan with the external proposal, as we seek to maximize value for shareholders and all stakeholders.' Alain Bouchard, Couche-Tard's chairman, has said he could propose a higher price for Seven & I once he has a chance to take a closer look at the Japanese company's financial information. Meanwhile, Seven & I is seeking to bolster its valuation through a series of strategic moves, including selling off underperforming retail assets, listing its U.S. operations, buying back shares and appointing new leadership. 'The real significance lies in execution of these measures, whether these steps translate into sustained financial performance and a stock re-rating,' said Bloomberg Intelligence analyst Lea El-Hage. Shareholders are waiting for 'tangible execution,' she added. That appears to be the approach taken by Artisan Partners, which last year urged Seven & I to negotiate a deal with Couche-Tard for a takeover price that maximizes shareholder value. While Seven & I's shares have bounced back from lows after the restructuring measures were announced, its market value remains at ¥5.66 trillion, roughly 23% below the price Couche-Tard is willing to pay. The NDA between the companies includes a standstill provision, which are usually designed to prevent a potential buyer from making a hostile bid. In the meantime, it will probably take months for Couche-Tard to fully evaluate Seven & I's financials and for the company to show whether its restructuring efforts are gaining any traction. Any future decisions by Seven & I will also be shaped by a board that will bring in five new directors: Shigeki Kimura, Seven & I executive vice president; Takashi Sawada, former CEO of FamilyMart; Masaki Akita, chairman of Matsuya; Tatsuya Terazawa, former Ministry of Economy, Trade and Industry director general; and Christine Edman, former Hennes & Mauritz Japan president. 'Shareholders are not as disappointed as they were,' said Lorraine Tan, an analyst at Morningstar Asia. 'Criticisms have been partly appeased.'
Business Times
26-05-2025
- Business
- Business Times
Buyout on Hold: Seven & i investors eye execution before backing deal or strategy
[TOKYO] The annual meeting of Seven & i Holdings shareholders is likely to be a low-key event, despite the drama surrounding a company facing a takeover proposal by Alimentation Couche-Tard, the operator of Circle K stores. Investors appear to be willing to see what happens with the radical overhaul that the Japanese retailer has pledged to counter Couche-Tard's 7.4 trillion yen (S$67 billion) approach. That effort is being led by Stephen Dacus, Seven & i's newly appointed chief executive officer who will preside over Tuesday's (May 27) meeting for the first time. While Seven & i has been slow to engage with its Canadian suitor, the operator of 7-Eleven stores has recently signed a non-disclosure agreement (NDA) to share financial data with Couche-Tard. It's also agreed to explore a sale of 2,000 overlapping North American convenience stores – a pre-requisite to resolve any antitrust concerns. These steps appear to have been enough to put shareholders into wait-and-see mode. Alain Bouchard, Couche-Tard's chairman, has said he could propose a higher price for Seven & i once he has a chance to take a closer look at the Japanese company's financial information. Meanwhile, Seven & i is seeking to bolster its valuation through a series of strategic moves, including selling off underperforming retail assets, listing its US operations, buying back shares and appointing new leadership. 'The real significance lies in execution of these measures, whether these steps translate into sustained financial performance and a stock re-rating,' said Bloomberg Intelligence analyst Lea El-Hage. Shareholders are waiting for 'tangible execution', she added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up That appears to be the approach taken by Artisan Partners, which last year urged Seven & i to negotiate a deal with Couche-Tard for a takeover price that maximises shareholder value. While Seven & i's shares have bounced back from lows after the restructuring measures were announced, its market value remains at 5.66 trillion yen, roughly 23 per cent below the price the Couche-Tard is willing to pay. The NDA between the companies includes a standstill provision, which are usually designed to prevent a potential buyer from making a hostile bid. In the meantime, it will probably take months for Couche-Tard to fully evaluate Seven & i's financials and for the company to show whether its restructuring efforts are gaining any traction. Any future decisions by Seven & i will also be shaped by a board that will bring in five new directors. They are: Shigeki Kimura, Seven & i executive vice-president Takashi Sawada, former CEO of Familymart Masaki Akita, chairman of Matsuya Tatsuya Terazawa, former Ministry of Economy, Trade and Industry director general Christine Edman, former Hennes & Mauritz Japan president For now, stakeholder advisory firm Institutional Shareholder Services has endorsed the board candidates, who are likely to be passed at Tuesday's meeting. 'Shareholders are not as disappointed as they were,' said Lorraine Tan, an analyst at Morningstar Asia. 'Criticisms have been partly appeased.' BLOOMBERG
Nikkei Asia
14-05-2025
- Business
- Nikkei Asia
Man behind the 7-Eleven takeover battle: Alain Bouchard
TOKYO -- Nine months after Alimentation Couche-Tard approached Seven & i, the drawn-out talks and the 7-Eleven owner's apparent resistance raise questions over how long the Canadian suitor will persist with its $47 billion bid. Crucial to any decision is Alain Bouchard, co-founder, executive chairman and significant shareholder of the Canadian convenience store operator. In his mid-70s, he is still closely involved in the running of the company after handing over the reins to the CEO in 2014.
Yahoo
23-03-2025
- Business
- Yahoo
The Ultimate Growth Stock to Buy With $1,000 Right Now
Written by Joey Frenette at The Motley Fool Canada It's been a terrible month for the broad markets, with tariff uncertainties and valuation concerns that seem to be 'correcting' before our eyes. Indeed, it's a scary time to be a new investor or retiree. That said, it's times like these when most other investors are hitting sell, when it tends to be a pretty good time to hit the buy button. Indeed, you've probably heard that contrarian investing can be key to some pretty good results. Though buying dips and plunges can be rewarding, knowing what to buy can be just as important, if not more so, than when to buy. Indeed, some firms are better equipped than others to tackle a unique slate of macro headwinds thrown their way. And, of course, there are firms that stand to be hard-hit and are oversold with a management team whose resilience is underestimated in the heat of a panic. In this piece, we'll check in on what I'd like to refer to as 'the ultimate growth' stock for beginners with $1,000 or less. Indeed, new investors, especially young ones, should pursue growth companies. But simplicity and ease of understanding are key, so betting on the hottest data analytics artificial intelligence (AI) company probably shouldn't be in the cards, at least as far as first-stock candidates are concerned. In any case, we'll check out an easy-to-understand business that I believe could make for a great pick-up on recent weakness. Though shares could remain in a bear market for another year, I like today's price of admission and the three- to four-year roadmap from here as management weighs their next big move. Alimentation Couche-Tard (TSX:ATD) is a pretty easy business to understand. It's the convenience store firm behind such names as Circle K and Couche-Tard, as it's still known in the province of Quebec. At $67 and change per share, Couche-Tard is now down more than 21% from its all-time highs. Indeed, there's been growing doubt about the ongoing pursuit of 7-Eleven's parent company. And while regulatory hurdles still exist, it doesn't sound like Couche-Tard's managers are backing down. Recently, the company advanced its friendly offer despite what has been a quiet past couple of weeks. Couche-Tard founder Alain Bouchard is pushing hard, and I think he's right to do so. As Bouchard and company aim to offer a deal that 7-Eleven's parents can't refuse, I'd not bet against the Canadian-born growth icon as it looks to expand its global reach in a big way. The stock looks incredibly cheap at 17.61 times trailing price to earnings, regardless of what ends up happening with 7-Eleven. Indeed, talks have dragged a bit, and investors are growing impatient. However, I think ATD stock is one of those names to buy for a TFSA and forget about for the next couple of years. Couche-Tard has big money to spend, and my guess is it'll put it to work on efforts that could deliver significant value (and likely continued gains) for shareholders over the long run. Couche-Tard stock may be in a bear market, but it's still doubled in the past five years. Don't give up on it now, just because there's more in the way of economic uncertainty. The post The Ultimate Growth Stock to Buy With $1,000 Right Now appeared first on The Motley Fool Canada. Before you buy stock in Alimentation Couche-Tard, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Alimentation Couche-Tard wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $20,697.16!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*. See the Top Stocks * Returns as of 3/20/25 More reading Best Canadian Stocks to Buy in 2025 Here's Exactly How $15,000 in a TFSA Could Grow Into $200,000 4 Secrets of TFSA Millionaires Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Joey Frenette owns shares of Alimentation Couche-Tard. The Motley Fool has positions in and recommends Alimentation Couche-Tard. The Motley Fool has a disclosure policy. 2025 Sign in to access your portfolio
Japan Times
19-03-2025
- Business
- Japan Times
Couche-Tard meets privately Seven & i investors, pressing case for takeover
Alimentation Couche-Tard has met privately with key Seven & I Holdings shareholders as the Canadian firm ramps up pressure on the operator of 7-Eleven convenience stores to engage in takeover talks. Along with public overtures, Couche-Tard founder and Chairman Alain Bouchard met privately with some Seven & I shareholders in Tokyo last week to make the case for why they should agree to the takeover, according to people familiar with the matter, who asked not to be identified because details of the meetings aren't public. While he didn't explicitly urge stakeholders to pressure Seven & I, he outlined the benefits of the deal and discussed the attractiveness of the business, particularly 7-Eleven's presence in Japan, and its potential for growth, said one of the people.
