Japan’s Seven & i Holdings Co. Ltd., which owns 7-Eleven, said it received a non-binding offer from Laval, Que.-based Couche-Tard to acquire all outstanding shares.
Seven & i owns not just the popular 7-Eleven convenience store chain in the U.S., Japan and elsewhere, but also a number of other businesses including supermarkets, food producers, household goods retailers, financial services companies and even has a stake in Tower Records Japan.
Couche-Tard did not disclose terms of the proposal presented to Seven & i but described the offer as “friendly, non-binding” and said it is focused on “reaching a mutually agreeable transaction that benefits both companies’ customers, employees, franchisees and shareholders.”
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