(Reuters) – Alimentation Couche-Tard plans to inform 7-Eleven operator Seven & i Holdings that it was nonetheless eager to pursue an acquisition, Bloomberg Information reported on Sunday citing individuals aware of the matter.
The Canadian comfort retailer plans to put in writing to the Japanese retailer within the coming days to reiterate its curiosity in a deal and has not dominated out going on to the shareholders with its bid, the report stated.
Couche-Tard and Seven & i didn’t instantly reply to a Reuters request for remark.
Seven & i, which stated final month it had acquired a suggestion from Circle-Okay proprietor Couche-Tard with out naming the value, disclosed the bid was at $14.86 a share and stated it was open to “sincerely consider” any proposals.
The proposal might sign a willingness to supply the next value if Seven & i agrees to pleasant negotiations, the report stated citing one individual aware of the matter.
The 7-Eleven operator has stated the proposal will not be in one of the best curiosity of its shareholders and will face antitrust challenges within the U.S., because the mixed entity could be the comfort retailer trade’s largest by a substantial margin.
(This story has been refiled to repair the headline)
