Latest news with #takeover bid
Yahoo
4 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
4 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.
