Latest news with #Alimentation Couche-Tard
Bloomberg
2 days ago
- Business
- Bloomberg
Couche-Tard's Failed Bid for Seven & i Sparks Debate Over Japan
By and Alice French Save Alimentation Couche-Tard Inc. 's decision to walk away in frustration from an attempted acquisition of Seven & i Holdings Co. set off a debate in Tokyo as to what lessons foreign companies with ambitions for M&A should draw. The bid was audacious from the start. 7-Eleven convenience stores have one of Japan's most recognizable brands and a takeover would have been the largest by a foreign entity in the country's history. Moreover, the founding Ito family were so opposed to the deal that they turned to one of their archrivals to try and block it.
Yahoo
3 days ago
- Business
- Yahoo
TSX futures muted with trade updates, corporate news in focus
(Reuters) -Futures for Canada's benchmark index were subdued on Thursday with investors looking for trade updates and assessing corporate news. Futures on the S&P/TSX index .SXFcv1 were unchanged at 1,615.80 points by 06:15 a.m. ET (1015 GMT). Prime Minister Mark Carney said on Wednesday that steel tariff quotas will be introduced for countries with which Canada has free trade agreements, excluding the U.S., in a bid to protect the domestic steel industry. The move follows U.S. President Donald Trump increasing import duties on steel and aluminum to 50% from 25% earlier this month. But existing arrangements with the United States-Mexico-Canada Agreement will be upheld. Investors are monitoring tariff updates with the August 1 deadline quickly approaching. Japan held talks with U.S. Commerce Secretary Howard Lutnick on Thursday and Europe Union's trade chief headed to Washington on Wednesday. In corporate news, Circle K-operator Alimentation Couche-Tard pulled its $46 billion bid to buy 7-Eleven's parent company Seven & i Holdings, saying the Japanese retailer did not engage constructively on the deal that would have created a global convenience store giant. Gold prices edged down on a firmer U.S. dollar while copper prices slid with tariffs in focus. Oil prices inched up. [O/R] [GOL/] [MET/L] TSX ended higher on Wednesday, boosted by technology and financial shares with investors shrugging off increased uncertainty about the Federal Reserve's leadership. U.S. economic data expected later in the day, including weekly jobless figures and June retail sales, will be scrutinized for insight on how the economy is holding up under a shifting tariff and trade policy. 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 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
Yahoo
3 days ago
- Business
- Yahoo
Doubts About 7-Eleven US IPO Emerge After Couche-Tard Scraps Bid
(Bloomberg) -- Seven & i Holdings Co. is drawing some skepticism about its plan to take its North American convenience stores business public after Circle K-operator Alimentation Couche-Tard Inc. abandoned its ¥6.77 trillion ($46 billion) takeover bid of the Japanese retailer. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Now that Couche-Tard has walked away, there's little reason for Seven & i to list 7-Eleven Inc. — one of its most prized businesses — because it no longer needs to fend off an unsolicited offer, according to investors and analysts interviewed by Bloomberg on Thursday. Bloomberg Intelligence estimates the 7-Eleven business could be valued at about $40 billion. 'The company should keep holding its entire stake as the situation has changed,' said Ikuo Mitsui, a fund manager at Aizawa Securities Group Co. '7-Eleven is the company's crown jewel, and it makes more sense for it to keep its 100% stake, which should contribute to higher corporate value.' Doubts about 7-Eleven's IPO are growing in spite of the parent saying that plans for a US IPO are still in place, even after Couche-Tard's withdrawal. At stake is the future of what could be one of the world's biggest IPOs in years — a person familiar with the matter has said the deal could raise more than ¥1 trillion. Asked to comment on the doubts, Seven & i said there's currently no change to its IPO plan of the North American convenience store business. According to Taku Sugawara, an analyst at Iwai Cosmo Securities Co., Seven & i may have considered listing 7-Eleven to push up the listed parent's stock price as part of its defense against Couche-Tard's unsolicited bid. 'Now, the only thing that Seven & i has to do is pursue self-growth,' Sugawara said. 'It's possible for the company to end up scrapping the IPO plan.' Aizawa's Mitsui took it a step further. 'There's no need now to list the US business,' he said. --With assistance from Koh Yoshida. How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Forget DOGE. Musk Is Suddenly All In on AI How Hims Became the King of Knockoff Weight-Loss Drugs The Quest for a Hangover-Free Buzz Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot ©2025 Bloomberg L.P.
Bloomberg
3 days ago
- Business
- Bloomberg
Doubts About 7-Eleven US IPO Emerge After Couche-Tard Scraps Bid
Seven & i Holdings Co. is drawing some skepticism about its plan to take its North American convenience stores business public after Circle K-operator Alimentation Couche-Tard Inc. abandoned its ¥6.77 trillion ($46 billion) takeover bid of the Japanese retailer. Now that Couche-Tard has walked away, there's little reason for Seven & i to list 7-Eleven Inc. — one of its most prized businesses — because it no longer needs to fend off an unsolicited offer, according to investors and analysts interviewed by Bloomberg on Thursday. Bloomberg Intelligence estimates the 7-Eleven business could be valued at about $40 billion.
Bloomberg
3 days ago
- Business
- Bloomberg
Couche-Tard Got Seven & i Wrong From the Start
Convenience store aficionados of the world, relax. Your perfect egg sandwich is safe, for now. The primary concern for millions of Japanese around the ¥6.77 trillion ($45.8 billion) bid for Seven & i Holdings Co. was that Canada's Alimentation Couche-Tard Inc. would, in search of improving shareholder value, destroy the customer experience that has made the Japanese convenience store, or conbini, a global sensation. That threat seems to have faded after Couche-Tard on Thursday abandoned its bid, citing a lack of 'sincere or constructive engagement.'
