TardIn my opinion the 2 companies are communicating with each other indirectly.
Tard was not immediately going to offer a new takeover price as this would show in my opinion that Tard has a bottomless pit of money to make this deal happen. Also important to note that if im not mistaken 7-11 has a quarterly report coming out on Oct 10, Tard may be waiting for that information before making a 2nd offer, if the 7-11 quarterly report comes in soft obviously this will only help Tard make its case. Aug 19 was the offer, Sept 6 was the rejection, were going into the 5th week waiting on Tard next move, if they have waited this long i cant see them putting in another offer before Oct 10 ,7-11 quarterly report, will see next week.
7-11 is leaking info in my opinion to show Tard they mean business and that they will take what ever action is necessary to spoil the party IF Tard does not come to the table with an appropriate offer in the eyes of 7-11 and its shareholders.
If this deal were to go through its important to note that Tard would have to digest 7-11 and make it work/accretive. This is definetly not a home run if deal goes through. For this to work EPS(earnings per share) has to also increase accordingly. Tard presently is below $4 eps, if post deal eps falls then we have a problem and could take years to fix if fixable. I was in a 7-11 in my area and its run down and over due for a makeover, this store is know where near the quality stardards of a Tard store in my opinion.