Trading in Japan’s Seven & i halted after Couche-Tard withdraws $47 billion bid to acquire the retailer
A 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kawasaki, Japan, on Monday, Aug. 19, 2024.
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Trading in Japan’s Seven & i was halted Thursday after Couche-Tard withdrew its $47 billion bid to acquire the retailer.
Canada’s Alimentation Couche-Tard announced Wednesday that it was withdrawing its takeover offer for Japan’s Seven & i Holdings, saying there was a “persistent lack of good faith engagement.”
“There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal, contrary to comments made publicly by 7&i representatives,” the Canadian retailer said in a statement.
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