Latest news with #AlimentationCouche-TardInc
Winnipeg Free Press
20 hours ago
- Business
- Winnipeg Free Press
Couche-Tard restarts share buybacks after ending Seven & i takeover bid
LAVAL – Alimentation Couche-Tard Inc. says it's restarting its share buyback program after it announced last week that it had ended its efforts to acquire the owner of the 7-Eleven chain. Laval, Que.-based Couche-Tard says the Toronto Stock Exchange had approved its program to buy back up to 10 per cent of outstanding shares that, based on its current price, represents about $5.8 billion in shares. The company says the potential repurchasing of about 77.1 million shares is an appropriate use of its cash and an efficient way to create long-term shareholder value. Couche-Tard had been keeping funds on-hand as it tried for more than a year to land a friendly takeover of Japan-based Seven & i Holdings Co. Ltd. in a deal that could have been worth more than $60 billion. The company said last Wednesday it had withdrawn its proposal, citing a lack of constructive engagement from Seven & i. Seven & i said it had engaged in good-faith discussions, but had also expressed concerns about antitrust hurdles and the broad shifts in the global economy that would challenge the prospects of any deal. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 21, 2025. Companies in this story: (TSX:ATD)
Hamilton Spectator
20 hours ago
- Business
- Hamilton Spectator
Couche-Tard restarts share buybacks after ending Seven & i takeover bid
LAVAL - Alimentation Couche-Tard Inc. says it's restarting its share buyback program after it announced last week that it had ended its efforts to acquire the owner of the 7-Eleven chain. Laval, Que.-based Couche-Tard says the Toronto Stock Exchange had approved its program to buy back up to 10 per cent of outstanding shares that, based on its current price, represents about $5.8 billion in shares. The company says the potential repurchasing of about 77.1 million shares is an appropriate use of its cash and an efficient way to create long-term shareholder value. Couche-Tard had been keeping funds on-hand as it tried for more than a year to land a friendly takeover of Japan-based Seven & i Holdings Co. Ltd. in a deal that could have been worth more than $60 billion. The company said last Wednesday it had withdrawn its proposal, citing a lack of constructive engagement from Seven & i. Seven & i said it had engaged in good-faith discussions, but had also expressed concerns about antitrust hurdles and the broad shifts in the global economy that would challenge the prospects of any deal. This report by The Canadian Press was first published July 21, 2025. Companies in this story: (TSX:ATD)
Toronto Star
4 days ago
- Business
- Toronto Star
Timeline: All the twists and turns from Couche-Tard's push to buy 7-Eleven's owner
Almost one year after it began its pursuit of 7-Eleven's parent company, Alimentation Couche-Tard Inc. announced Wednesday that it was withdrawing from negotiations due to an alleged lack of engagement from its acquisition target. The Laval, Que.-based business behind Circle K and Ingo has not had an easy time pursuing the acquisition of Japan-headquartered Seven & i Holdings Co. Ltd.
Hamilton Spectator
5 days ago
- Business
- Hamilton Spectator
Couche-Tard shares climb after walking away from 7-Eleven offer
MONTREAL - Shares of Alimentation Couche-Tard Inc. rose Thursday after the company walked away from its proposal to buy the Japanese parent of 7-Eleven. The Quebec-based company said Wednesday that it dropped its offer due to what it called a 'lack of constructive engagement.' Martin Landry, managing director at investment bank Stifel, said Couche-Tard's decision was not a surprise. 'Couche-Tard faced challenges since the beginning of this process when its offer got leaked, forcing the company to disclose publicly its intentions but with limited details on rationale, strategy, synergies, financing and accretion,' Landry wrote in a report. 'Hence, from the get-go investors have been hesitant regarding this potential acquisition, standing on the sideline waiting to get more details.' Had the deal gone ahead, it would have handed Couche-Tard a dominant position in the global convenience store game. Couche-Tard was critical of the way the talks with the Japanese company were handled in giving up its pursuit of a deal. 'We are not able to effectively pursue this combination without deeper and genuine further engagement from 7&i leadership and the special committee,' it said. For its part, Seven & i Holdings Co. Ltd. says it engaged in good faith and constructively with the Quebec-based company to explore the possibility of reaching a deal. 'At the same time, we were always honest about the extraordinary antitrust hurdles a potential transaction would face, including the protracted timeframe to move through the regulatory process,' Seven & i said in a statement. Couche-Tard spent nearly a year courting the Japanese company, which also holds a broader portfolio of supermarkets, food producers and financial services companies. Shares in Couche-Tard were up $5.35 or about eight per cent at $73.67 in late-morning trading on the Toronto Stock Exchange. This report by The Canadian Press was first published July 17, 2025. Companies in this story: (TSX:ATD)
Global News
5 days ago
- Business
- Global News
Couche-Tard walks away from bid to buy 7-Eleven parent company
The parent company of 7-Eleven says it remains committed to its stand-alone plan after Canadian company Alimentation Couche-Tard Inc. backed away from its offer to buy its rival. Japanese company Seven & i Holdings Co. Ltd. says it engaged in good faith and constructively with the Quebec-based company to explore the possibility of reaching a deal. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Couche-Tard has said that it walked away from its offer Wednesday due to what it called a 'lack of constructive engagement.' Had the deal gone ahead, it would have handed Couche-Tard a dominant position in the global convenience store game. Couche-Tard spent nearly a year courting the Japanese company which also holds a broader portfolio of supermarkets, food producers and financial services companies. Couche-Tard has close to 17,000 stores in 29 countries and territories around the world.
