Latest news with #CoucheTard
Bloomberg
5 hours ago
- Business
- Bloomberg
Seven & i Denies Snubbing Couche-Tard's $46 Billion Takeover Bid
Seven & i Holdings Co. pushed back against Alimentation Couche-Tard Inc. 's assertions that it refused to engage in meaningful talks over a potential merger, saying that the Canadian suitor didn't take antitrust concerns seriously enough and doesn't understand how business is conducted in Japan. The operator of Circle K convenience stores 'decided on its own it was easier to walk away,' the special committee of Seven & i's board said in a statement on Tuesday. The 7-Eleven owner was responding to Couche-Tard's 1,500-word missive issued last week explaining that it was ending its pursuit because of a 'calculated campaign of obfuscation and delay.'
Yahoo
6 hours ago
- Business
- Yahoo
TSX futures edge lower as trade anxiety weighs
(Reuters) -Futures tied to Canada's benchmark index nudged lower on Tuesday as market mood soured over the fading prospects of a U.S.-EU trade deal, while investors tracked corporate earnings to assess the impact of President Donald Trump's tariffs on businesses. Futures on the S&P/TSX index were down 0.2% at 1,622.80 points by 06:43 a.m. ET (1043 GMT). The main Canadian stock index closed flat on Monday. Trade negotiations appeared shaky after EU diplomats said the 27-nation bloc was considering broader counter-measures against Washington. Prospects for an interim trade deal between India and the U.S. have also dimmed, according to Indian government sources. However, U.S. Treasury Secretary Scott Bessent said on Monday the Trump administration is more concerned with the quality of trade agreements than their timing. Meanwhile, the Bank of Canada said in a survey Canadian businesses see less chance of a worst-case tariff scenario but remain cautious, while keeping hiring and investment in check. In commodities, oil prices declined and gold prices retreated from a five-week high. Copper prices drifted higher. In corporate news, Alimentation Couche-Tard said on Monday it was resuming its share repurchase program days after the Circle K-parent scrapped a $46-billion attempt to buy Japan's Seven & I. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report [.TO] Canadian dollar and bonds report [CAD/] [CA/] Reuters global stocks poll for Canada Canadian markets directory Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
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) The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
2 days ago
- Business
- CNA
CNA938 Rewind - Was the bid for Japan's 7-Eleven doomed from the start?
By withdrawing its US$46 billion bid for the Japanese convenience store leader, the Canadian firm Couche-Tard showed how unprepared it always was. Was the bid wrong from the start? Andrea Heng and Hairianto chat with Dr Roy Larke, Professor and Co-founder at to find out.
Yahoo
3 days ago
- Business
- Yahoo
3 Big Numbers: An elegy for Couche-Tard's attempted Seven & i buyout
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. 3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry. On Wednesday, Alimentation Couche-Tard sent a letter to Seven & i Holdings announcing it was withdrawing its takeover bid for the international conglomerate. This brought an unceremonious end to what had been a long-running courtship. Circle K parent company Couche-Tard shared some final accusations of bad faith engagement and gave a little more context about the whole saga, adding that it withdrew the bid due to a 'lack of constructive engagement by Seven & i.' Seven & i responded with a short announcement in which it accepted the end of talks, shared vague disappointment in Couche-Tard's 'mischaracterizations' and touted its own ongoing initiatives. And then it was over. In this week's '3 Big Numbers,' we pay our respects to the end of a short-lived era as Couche-Tard bows out of its pursuit of Seven & i. 332 The number of days between Couche-Tard making its first bid for Seven & i and withdrawing from the discussions. Last August, Couche-Tard announced it was pursuing Seven & i. Almost one year later, the Canadian company threw in the towel. A lot has changed in that time. In its response to Couche-Tard's withdrawal, Seven & i noted that 'there have been significant changes in the global economy, exchange rates, and financing markets. As [Alimentation Couche-Tard] noted on its most recent earnings call, conditions in key markets have deteriorated since last year.' With the worry about this deal now in the rearview mirror, both companies can move forward. Seven & i has a number of initiatives in the pipeline it's working on, including taking its North American arm public and improving its food and delivery programs. 23% The gap between Couche-Tard's proposed buyout price per share and the closing price of Seven & i after Wednesday's news. Couche-Tard's President and CEO Alex Miller and Chairman of the Board Alain Bouchard noted in their letter that Couche-Tard had offered 2,600 yen per share for Seven & i. By the time trading on the Tokyo Exchange closed on Thursday, Seven & i's stock price was 2,008 yen per share — around a 23% difference. While it's impossible to know how well the stock will be doing in another year or two, right now the breakdown in talks has left a lot of money on the table for shareholders. It seems like many of them voted with their wallets via the stock market. More than 54 million shares changed hands Thursday on the Japanese exchange, while a normal day's trading doesn't even reach 7 million shares. Trading was even briefly halted during the day. Couche-Tard, meanwhile, actually saw a stock price boost from the news. It's possible that investors were worried about how much benefit the company could wring out of a deal for Seven & i. 100% How much of Seven & i Couche-Tard wanted to purchase. This one sounds obvious, we know. Couche-Tard made a bid for Seven & i, so of course they wanted the whole thing. But in the letter to Seven & i withdrawing from talks, Couche-Tard leaders shared that there were actually two other options on the table. Couche-Tard advanced a proposal that would see it buying 40% of the Japanese operations and all of Seven & i's international operations. Seven & i, meanwhile, suggested a deal where Couche-Tard would get 7-Eleven Inc., the North American branch of the company, and the Japanese retailer would get equity ownership in the Canadian retailer. It's interesting to note that Miller and Bouchard said an agreement for only 7-Eleven Inc. 'would undermine the operational prospects of the combined business.' Seven & i plans to spin off that part of the business in an IPO next year, a move some experts said could clear the way for Couche-Tard to buy just those stores. The company's letter makes that sound a lot less likely. Editor's note: This article was updated to correct the number of days since Couche-Tard's offer for Seven & i. Recommended Reading Couche-Tard ends takeover bid for Seven & i
