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Nikkei Asia
a day ago
- Business
- Nikkei Asia
7-Eleven parent still wants IPO for US unit, chairman says
Retail Founding family member speaks for first time since Couche-Tarde deal collapse Seven & i in March announced plans to list Seven-Eleven Inc., which operates convenience stores in North America. (Photo by Nikkei) YOSHIHIRO HARA August 17, 2025 04:28 JST TOKYO -- 7-Eleven parent Seven & i Holdings remains intent on a stock market listing for its American convenience store unit and will channel some of the proceeds into growth, Chairman Junro Ito said.
Winnipeg Free Press
16-07-2025
- Business
- Winnipeg Free Press
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. Here's a timeline of some of the twists and turns it's encountered. Aug. 19, 2024: Seven & i reveals it received an offer from Couche-Tard to acquire all outstanding shares. Couche-Tard did not disclose terms of the proposal presented to Seven & i but described the offer as 'friendly, non-binding.' Sept. 6, 2024: Seven & i says its board of directors has unanimously concluded that Couche-Tard's offer of US$14.86 per share in cash was not in its shareholders' best interests because it is 'opportunistically timed and grossly undervalues' the business. Sept. 8, 2024: Couche-Tard says it is 'disappointed' Seven & i rejected its initial takeover offer but remains focused on reaching a deal. Sept. 9, 2024: Seven & i says it's still open to talks if Couche-Tard puts forth a proposal that 'fully recognizes Seven & i's stand-alone intrinsic value' and addresses its regulatory concerns. Oct. 9, 2024: Seven & i says it has received a revised confidential, private and non-binding proposal from Couche-Tard. Media reports suggest the new bid values Seven & i at US$47 billion, about 22 per cent higher than an offer of $38.6 billion Couche-Tard made in August. Nov. 13, 2024: Seven & i says a member of the family that helped found the company has put forward a new management buyout proposal. The proposal is from Junro Ito, who is a vice-president and director of the company, and Ito-Kogyo Co. Ltd., a private company affiliated with him. Terms of the non-binding offer by Ito are not disclosed. Jan. 24, 2025: Couche-Tard submits a revised, yen-based, non-binding proposal to fulfill a request from Seven & i seeking proof of the Quebec company's continued interest in a deal. Feb. 27, 2025: Seven & i says it's in talks with Couche-Tard after Ito and Ito-Koogyo Co. are unable to secure financing for their proposal. March 6, 2025: Seven & i announces a new plan to sell billions of its non-convenience store assets to Bain Capital and launch an initial public offering of its North American 7-Eleven business. March 7, 2025: Couche-Tard says Seven & i has agreed to collaborate on assembling a portfolio of stores the companies could divest to appease regulators. March 9, 2025: Seven & i confirms that both sides are working together to map out potential buyers for convenience stores that could be sold to satisfy U.S. antitrust regulators. Seven & i says Couche-Tard wanted the two sides to sign an acquisition agreement and then spin out overlapping stores or try to find a divestiture buyer, but the 7-Eleven owner felt that approach would have come with too high a chance of the deal not closing and kept it in limbo for years. March 10, 2025: Couche-Tard says it's 'disappointed' with the 'very limited' engagement it alleges it's received from Seven & i. Monday Mornings The latest local business news and a lookahead to the coming week. The Quebec company counters Seven & i's arguments that it would be difficult to satisfy U.S. regulators' competition concerns, saying there is a clear path to getting approvals in the country, which it outlined in a detailed proposal in December. May 1, 2025: Couche-Tard Inc. says it has signed a non-disclosure agreement with Seven & i to 'progress transaction discussions, facilitate due diligence, and collaborate on plans to engage with regulators.' June 25, 2025: Couche-Tard Inc. executives say the recent process they've adopted to try to buy Seven & i has helped negotiations and perhaps even sped things up. July 16, 2025: Couche-Tard Inc. says it is withdrawing from its acquisition proposal due to a lack of engagement from Seven & i. This report by The Canadian Press was first published July 16, 2025.
Hamilton Spectator
16-07-2025
- Business
- Hamilton Spectator
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. Here's a timeline of some of the twists and turns it's encountered. Aug. 19, 2024: Seven & i reveals it received an offer from Couche-Tard to acquire all outstanding shares. Couche-Tard did not disclose terms of the proposal presented to Seven & i but described the offer as 'friendly, non-binding.' Sept. 6, 2024: Seven & i says its board of directors has unanimously concluded that Couche-Tard's offer of US$14.86 per share in cash was not in its shareholders' best interests because it is 'opportunistically timed and grossly undervalues' the business. Sept. 8, 2024: Couche-Tard says it is 'disappointed' Seven & i rejected its initial takeover offer but remains focused on reaching a deal. Sept. 9, 2024: Seven & i says it's still open to talks if Couche-Tard puts forth a proposal that 'fully recognizes Seven & i's stand-alone intrinsic value' and addresses its regulatory concerns. Oct. 9, 2024: Seven & i says it has received a revised confidential, private and non-binding proposal from Couche-Tard. Media reports suggest the new bid values Seven & i at US$47 billion, about 22 per cent higher than an offer of $38.6 billion Couche-Tard made in August. Nov. 13, 2024: Seven & i says a member of the family that helped found the company has put forward a new management buyout proposal. The proposal is from Junro Ito, who is a vice-president and director of the company, and Ito-Kogyo Co. Ltd., a private company affiliated with him. Terms of the non-binding offer by Ito are not disclosed. Jan. 24, 2025: Couche-Tard submits a revised, yen-based, non-binding proposal to fulfill a request from Seven & i seeking proof of the Quebec company's continued interest in a deal. Feb. 27, 2025: Seven & i says it's in talks with Couche-Tard after Ito and Ito-Koogyo Co. are unable to secure financing for their proposal. March 6, 2025: Seven & i announces a new plan to sell billions of its non-convenience store assets to Bain Capital and launch an initial public offering of its North American 7-Eleven business. March 7, 2025: Couche-Tard says Seven & i has agreed to collaborate on assembling a portfolio of stores the companies could divest to appease regulators. March 9, 2025: Seven & i confirms that both sides are working together to map out potential buyers for convenience stores that could be sold to satisfy U.S. antitrust regulators. Seven & i says Couche-Tard wanted the two sides to sign an acquisition agreement and then spin out overlapping stores or try to find a divestiture buyer, but the 7-Eleven owner felt that approach would have come with too high a chance of the deal not closing and kept it in limbo for years. March 10, 2025: Couche-Tard says it's 'disappointed' with the 'very limited' engagement it alleges it's received from Seven & i. The Quebec company counters Seven & i's arguments that it would be difficult to satisfy U.S. regulators' competition concerns, saying there is a clear path to getting approvals in the country, which it outlined in a detailed proposal in December. May 1, 2025: Couche-Tard Inc. says it has signed a non-disclosure agreement with Seven & i to 'progress transaction discussions, facilitate due diligence, and collaborate on plans to engage with regulators.' June 25, 2025: Couche-Tard Inc. executives say the recent process they've adopted to try to buy Seven & i has helped negotiations and perhaps even sped things up. July 16, 2025: Couche-Tard Inc. says it is withdrawing from its acquisition proposal due to a lack of engagement from Seven & i. This report by The Canadian Press was first published July 16, 2025.
27-05-2025
- Business
Seven & i Shareholders Approve Dacus-Led New Board
Newsfrom Japan Tokyo, May 27 (Jiji Press)--Seven & i Holdings Co. shareholders on Tuesday approved a new board of directors led by President and CEO Stephen Hayes Dacus and Chairman Junro Ito, a member of the Japanese retailer's founding family. The company has been in talks with Canadian convenience store operator Alimentation Couche-Tard on its proposal to acquire Seven & i, while exploring ways to boost its corporate value on its own. The Dacus-led team has challenges of crafting and executing a growth strategy centered on Seven & i's convenience store business in Japan and the United States. Dacus told shareholders in a meeting in Tokyo that Seven & i will grow faster in the coming decade. He succeeded Ryuichi Isaka, who led the company for nine years. Seven & i has now four new outside directors, including Takashi Sawada, former president of Japanese convenience store chain FamilyMart Co. [Copyright The Jiji Press, Ltd.]
01-05-2025
- Business
U.S. Proxy Advisers Support Seven & i Proposals
Newsfrom Japan Tokyo, May 1 (Jiji Press)--Two U.S. proxy advisory companies support proposals that Seven & i Holdings Co. plans to put forward at a shareholders' meeting on May 27, people familiar with the matter said Thursday. Glass Lewis & Co. and Institutional Shareholder Services Inc. recommended that institutional investors vote in favor of all proposals from the Japanese retailer, including its slate of director nominees. Seven & i plans to appoint outside director Stephen Hayes Dacus as its next president and CEO, and Junro Ito, a member of its founding family, as executive chairman. The company also plans to name Takashi Sawada, former president of Seven & i rival FamilyMart Co., as an outside director. Glass Lewis and ISS said that there is no serious problem with the director candidates. [Copyright The Jiji Press, Ltd.]
