MONTREAL – Alimentation Couche-Tard Inc. has made a new offer for the Japanese owner of 7-Eleven.
In a statement, Seven & i Holdings Co. Ltd. says it has received a revised confidential, private and non-binding proposal from the Canadian company.
The Japanese company turned down an earlier offer by Couche-Tard valued at the time at about US$38.6 billion.
Seven & i had said the earlier proposal undervalued the potential of its convenience store business, while not fully addressing U.S. regulatory concerns.
The Japanese company did not disclose the terms of the revised offer, but says it will continue to act in the best interest of its shareholders and other stakeholders.
Seven & i says it plans to keep its talks with Couche-Tard confidential, as requested by the Quebec-based company.
This report by The Canadian Press was first published Oct. 9, 2024.
Companies in this story: (TSX:ATD)
