Couche-Tard Raises 7-Eleven Bid to $47 Billion, 20% Increase, Shares Surge 10%

Oct 9, 2024, 04:55 AM

Alimentation Couche-Tard has raised its acquisition offer for Japan's Seven & i Holdings, the parent company of 7-Eleven, to approximately $47.2 billion. This new bid represents a 20% increase over Couche-Tard's previous offer, which was rejected and estimated at around $40 billion. The revised offer values Seven & i shares at ¥7 trillion, or $18.19 per share. Following the announcement, shares of Seven & i Holdings surged by 10% in Tokyo trading. Couche-Tard's renewed interest indicates its commitment to pursuing a takeover despite earlier setbacks.