Couche-Tard放棄460億美元收購計畫，Seven & i上半場股價重挫7.38%
Seven & i股價在週四股價走低，上半場結束時下跌7.38%。Seven & i Holdings一直試圖證明自身獨立存在的合理性，並做出了一系列重大調整，包括任命Stephen Dacus為首席執行長、以54億美元出售旗下綜合超市業務、提出2兆日圓的股票回購計畫，以及計畫將其美國業務獨立上市。
Seven & i在聲明中表示，對Couche-Tard選擇放棄感到失望，並稱Couche-Tard的信中存在「許多誤導性描述」。Seven & i還表示，將堅定不移地推動公司的獨立價值創造計畫，並將加快提升核心業務。
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Business Insider
14 hours ago
- Business Insider
Alimentation Couche-Tard Stock (TSE:ATD) Surges as Buybacks Return
We followed the saga of Canadian convenience store giant Alimentation Couche-Tard (TSE:ATD) for months as it doggedly pursued the acquisition of Japanese convenience store giant and 7-Eleven parent company Seven & i. And when the deal finally broke down into no deal at all, Couche-Tard wasted no time and got back on the horse, launching a new share buyback plan. This was fine news for investors, who sent shares surging up 3% in Monday morning's trading. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Without the need to pay for 7-Eleven, Couche-Tard decided to focus its efforts, and its cash, on bolstering share prices by buying back stock. In fact, a program recently approved by the Toronto Stock Exchange calls for it to buy back as much as 10% of outstanding stock. That represents nearly $6 billion worth of shares, reports note. Couche-Tard had, for a while, suspended its share buyback efforts, citing a need to keep cash on hand to address a potential merger. But with that merger now officially off the table, that cash is sitting around with nothing to do, and Couche-Tard means to change that. 'Who Are We Supposed to Believe?' Meanwhile, the post-mortem reports around the now-dead deal have been emerging, and devolving into a he-said-she-said kind of affair that is leaving outside observers scratching their heads. Couche-Tard, for its part, believed that Seven & i was simply not willing to negotiate, constantly throwing up roadblocks into the process. Meanwhile, Seven & i asserted regularly that it was willing to negotiate, but it had what it believed were valid concerns about antitrust issues—especially in the United States—and the global economy as a whole. This led those outside observers to ask, 'Who are we supposed to believe?'. Reports suggest that Seven & i was never interested in a deal from the start, regarding Couche-tard's '…overtures as hostile and contrary to its interests.' However, elements within Seven & i insisted on pursuing the deal regardless, believing that it would 'boost its corporate value.' Is Alimentation Couche-Tard a Good Stock to Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on TSE:ATD stock based on 12 Buys assigned in the past three months, as indicated by the graphic below. After a 9.11% loss in its share price over the past year, the average TSE:ATD price target of C$82.67 per share implies 5.89% upside potential.
Yahoo
a day ago
- Yahoo
Fueling Up: Was Seven & i ever interested in Couche-Tard's buyout offer?
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Fueling Up is a column from C-Store Dive offering a fresh perspective on the top news and trends in the convenience store industry. The hype surrounding what would've been one of the most monumental c-store mergers in history died last week when Alimentation Couche-Tard withdrew its nearly $50 billion buyout offer of Seven & i Holdings. Nearly a year after it made its bid, Circle K's parent company said a lack of engagement from Seven & i was a major roadblock to the deal, which would've included over 80,000 7-Eleven c-stores globally. To say the Canadian retailer is bitter about this ending would be an understatement. In a letter to Seven & i late Wednesday evening, Couche-Tard's President and CEO Alex Miller and Chairman of the Board Alain Bouchard said Seven & i's due diligence over the past year was negligible. The executives added that Seven & i displayed a 'persistent lack of good faith and judgement' during the process and 'engaged in a calculated campaign of obfuscation and delay.' But this apparent negligence is nothing but a 'mischaracterization,' according to Seven & i, which released its own letter Thursday morning in response to Miller's and Bouchard's onslaught. The Japanese company said it's disappointed but not surprised by Couche-Tard's withdrawal, adding that Couche-Tard faced significant challenges in economic and financial markets over the past year. Despite Couche-Tard's accusations of a premeditated rejection, Seven & i emphasized that it 'consistently engaged in good faith and constructively' in exploring a deal with Couche-Tard. This is obviously contradictory. Couche-Tard said Seven & i wasn't willing to play ball, while Seven & i claims it was suited up and ready to swing at the right pitch. Who and what are we supposed to believe? All we can do is break down the facts. Pressure buildups and cultural dissonance Seven & i had been under shareholder pressure long before Couche-Tard entered the picture. Investors have been urging the company to spin off its c-store business into a separate entity for years. That pressure intensified as Seven & i's earnings dropped in the years following, reaching a climax when more investors called for the removal of several directors as well as former CEO Ryuichi Isaka. When Couche-Tard came along, some shareholders were adamant that Seven & i pursue the deal to boost its corporate value. So even if Seven & i was never interested in selling to Couche-Tard and yielding its claim as the world's largest c-store retailer, passively engaging with the Canadian company may have been in its best interest. 'The blunt truth is that Seven & i was never really in the market for a deal. It saw the overtures as hostile and contrary to its interests,' Neil Saunders, managing director of retail research agency GlobalData Retail, said in a LinkedIn post on Thursday. 'However, there were a string of other reservations that the group raised, all designed to delay and reduce the possibility of an agreement. This attrition eventually wore Couche-Tard down.' Even if Seven & i was legitimately interested in being acquired, a difference in cultures may have also halted progress. This was top of mind from the start, with Couche-Tard saying back in September that although it had no presence in Japan, it would do its best to empower Seven & i's leaders and operators in the nation to carry on as usual. But the 'very different working styles' between Japan and Canada may have ultimately been too much for Seven & i, Jarred Neubronner, senior analyst with the Institute for Grocery Distribution, said in a LinkedIn post on Thursday. 'After having built up 7-Eleven in the past decades to become the world's largest convenient brand, Seven & i's management would not have wanted a takeover that would lead to a drastic change in ways of working,' Neubronner said. 'The blunt truth is that Seven & i was never really in the market for a deal. It saw the overtures as hostile and contrary to its interests." Neil Saunders Managing director of GlobalData Retail Despite the sour ending to what was the most anticipated storyline I've covered as a c-store journalist, not all may be lost. When I posted the news to LinkedIn on Thursday, Michael Infranco, assistant vice president of retail analytics firm RetailStat, commented that given Seven & i's IPO plans for 7-Eleven, a deal for the thousands of North America stores could still be on the table. Whether that happens remains to be seen. I won't count on it. But c-store operators have proven that even in an industry this reliable and consistent, they'll throw a nasty changeup every once in a while. Recommended Reading Couche-Tard ends takeover bid for Seven & i
Hamilton Spectator
a day ago
- 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)
