The Japanese owner of convenience store chain, 7-Eleven, rejected a previous acquisition proposal from Canadian retail giant Alimentation Couche-Tard ACT, citing a low valuation and regulatory concerns.
In a publicly disclosed letter, published on September 6, Seven i Holdings said that the board of directors has unanimously concluded that the proposal is not in the best interest of the company’s shareholders and other stakeholders, and that they have decided to reject it.
“We are open to sincerely consider any proposal that is in the best interests of 7i shareholders and other stakeholders,” Stephen Dacus, chairman of the board, noted in the letter. “However, we...
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