- Alimentation Couche-Tard Inc. (TSX:ATD) has submitted a friendly, non-binding proposal to Seven & i Holdings.
- The Japanese operator of 7-Eleven, the popular convenience store chain said it had received a preliminary takeover offer from the Québec-based convenience store operator
- The deal is valued at a potential equivalent of US$31 billion via media reports and 7-Eleven reached peak revenue last year of US$5.5 billion, according to Zippia
- Alimentation Couche-Tard Inc. opened trading at C$80.00 per share
Alimentation Couche-Tard Inc. (TSX:ATD) has submitted a friendly, non-binding proposal to Seven & i Holdings.
The Japanese operator of 7-Eleven, the popular convenience store chain stated it had received a preliminary takeover offer from the Québec-based convenience store operator.
In a news release, Alimentation Couche-Tard’s management said it wants to reach a mutually agreeable transaction that benefits both companies. The company stressed there is no certainty at this stage that any agreement or transaction would be reached.
The deal is valued at a potential equivalent of US$31 billion via media reports and 7-Eleven reached peak revenue last year of US$5.5 billion, according to Zippia.
In related news on Monday, Alimentation Couche-Tard also announced that it will acquire GetGo Café +Markets from supermarket retailer Giant Eagle.
Alimentation Couche-Tard Inc. operates in 31 countries and territories, with more than 16,700 stores, of which approximately 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States.
Alimentation Couche-Tard Inc. (TSX:ATD) opened trading at C$80.00 per share and has risen more than 18 per cent since this time last year.
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(Top image: Alimentation Couche-Tard Inc.)