The Japanese proprietor of 7-Eleven says it has obtained a brand new administration buyout proposal from a member of the household that helped discovered the corporate.
The proposal for Seven & i Holdings Co. Ltd. by Junro Ito, who’s a vice-president and director of the corporate, and his non-public firm Ito-Kogyo Co. Ltd. follows a proposal for the corporate from Canadian retailer Alimentation Couche-Tard Inc.
Phrases of the non-binding supply by Ito weren’t disclosed.
In an announcement Wednesday, Seven & i says its particular committee has been reviewing the proposal with its monetary advisers.
It famous that Ito has been excluded from all discussions inside the firm associated to the supply and the bid by Couche-Tard.
The Canadian firm made a revised supply for Seven & i final month after an earlier proposal was rebuffed by the Japanese agency as a result of it was too low and didn’t absolutely handle U.S. regulatory considerations.
This report by The Canadian Press was first printed Nov. 13, 2024.
