Business
ALIMENTATION COUCHE-TARD ANNOUNCES WITHDRAWAL OF PROPOSAL TO ACQUIRE SEVEN & I HOLDINGS DUE TO LACK OF ENGAGEMENT
Alimentation Couche-Tard ("Couche-Tard" or the "Corporation") (TSX: ATD) announced today that it has withdrawn its proposal to acquire Seven & i Holdings Co., Ltd. ("Seven & i") due to a lack of constructive engagement by Seven & i. Couche-Tard sent the following letter to the Board of Directors:
About this update from Seven & I Holdings Co., Ltd.
[{"type":"text","content":"Issues Letter to the Board of Directors of Seven & i Holdings Co., Ltd.","length":85,"tagName":"p","attribs":{}},{"type":"text","content":"LAVAL, QC, July 16, 2025 /CNW/ - Alimentation Couche-Tard ("Couche-Tard" or the "Corporation") (TSX: ATD) announced today that it has withdrawn its proposal to acquire Seven & i Holdings Co., Ltd. ("Seven & i") due to a lack of constructive engagement by Seven & i. Couche-Tard sent the following letter to the Board of Directors:","length":377,"tagName":"p"},{"type":"image","alt":"Alimentation Couche-Tard inc. (CNW Group/Alimentation Couche-Tard Inc.)","displaySize":"","headline":null,"caption":"Alimentation Couche-Tard inc. (CNW Group/Alimentation Couche-Tard Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":75,"url":"https://media.zenfs.com/en/cnwgroup.com/1c8e35b0fc80f832d0df29c0c6200a8b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/MqhfsI3fAtQ_g79lOKrbOw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEzMjtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/1c8e35b0fc80f832d0df29c0c6200a8b","width":400,"height":75}},"href":"https://mma.prnewswire.com/media/2732783/Alimentation_Couche_Tard_Inc__ALIMENTATION_COUCHE_TARD_ANNOUNCES.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"July 16, 2025","length":13,"tagName":"p"},{"type":"text","content":"Board of DirectorsSeven & i Holdings Co., Ltd.8-8, Nibancho, Chiyoda-ku, Tokyo 102-8452, Japan","length":100,"tagName":"p"},{"type":"text","content":"Members of the Board of Directors:","length":34,"tagName":"p"},{"type":"text","content":"We continue to believe that a combination of Seven & i Holdings ("7&i") and Alimentation Couche-Tard ("ACT") would create a global leader in convenience with the ability to better serve our stakeholders, grow the 7-Eleven brand and generate value for our respective shareholders.","length":307,"tagName":"p"},{"type":"text","content":"As you know, earlier this year we submitted a proposal of ¥2,600 per ordinary share in cash, representing a 47.6% premium to your unaffected stock price. We have, for some time, tried to engage with your Special Committee on this proposal through constructive, friendly discussions in which we have clearly demonstrated that our proposal is ful...