Buyout Offer Too Low, Seven & i to Tell Canadian Firm
Tokyo, Sept. 5 (Jiji Press)--Seven & i Holdings Co. plans to send a letter to Canada's Alimentation Couche-Tard Inc., which has offered to acquire the Japanese retail giant, to say that its proposed buyout price is too low, it was learned Thursday.
Seven & i plans to send the letter to the Canadian convenience store operator as early as Friday.
The Japanese company announced on Aug. 19 that it had received the acquisition offer. It set up a special committee of independent outside board members to review the proposal.
Based on the committee's findings, Seven & i determined at a board meeting Thursday that the proposed acquisition price is not commensurate with the company's corporate value and decided to send a letter urging Alimentation Couche-Tard to reconsider its offer.
According to Seven & i, the Canadian company offered to acquire a full stake. Although the proposed purchase price has not been disclosed, Seven & i's market capitalization as of Thursday stood at 5.6 trillion yen.
(2024/09/05-21:46)
To read a full story, please click here to find out how to subscribe.
NATION
- 09/18 00:18 Unification Church Issue Haunts LDP amid Leadership Race
- 09/17 22:20 (Update) Fukushima Plant Fuel Debris Removal Work Hit by Glitch Again
- 09/17 22:19 Over 80 Pct in Japan Accept New Expressions Such as "Mofumofu": Survey
- 09/17 21:47 Japan Rice Price to Wholesalers Hits Record High for Aug.
- 09/17 21:33 LDP Leadership Candidates Focus on Economy in Okinawa
- 09/17 21:07 Kamikawa to Prioritize U.S. Visit over LDP Leadership Election
- 09/17 20:49 7 Quasi-Gang Members Arrested for Obstructing Apple Store in Tokyo
- 09/17 20:11 (Update) Mars Rock to Be Exhibited at 2025 Osaka Expo
- 09/17 19:58 INTERVIEW: Kamikawa Sees Arctic as Public Property for All
- 09/17 19:46 Japan PM's attendance at ASEAN Meetings Next Month Uncertain
- 09/17 19:09 Fukushima Plant Debris Removal Work Hit by Glitch Again
- 09/17 18:55 "Ice Navigator" Secures Safety of Japan's Research Vessel Mirai
- 09/17 17:53 Japan Average Land Price Rises for 3rd Consecutive Year
- 09/17 16:03 Japan's Arctic Research Vessel Mirai Reaches Sea Ice Area
- 09/17 13:58 Japan to Conduct Mock Cyberattack Tests on Local Govts
- 09/17 13:45 Women in Managerial Posts Top 10 Pct for 1st Time in Japan
- 09/17 13:38 HPV Proteins Detected in Potential Cervical Cancer Patients' Urine
- 09/17 11:16 Japan's Centenarians Hit Record for 54th Straight Year
- 09/17 10:44 Japan to Allow Use of Ride-Hailing Services in Disasters
- 09/17 10:12 Mt. Fuji Restrictions Reduce Dangerous Overnight Climbs
- 09/17 08:24 Mars Rock to Go on Display at 2025 Osaka Expo
- 09/17 01:02 (Update) Japan's Morinari Watanabe Enters IOC Presidential Race
- 09/16 23:29 Yamaha Motor Pres. Slashed with Knife by Daughter
- 09/16 21:10 Japan's Morinari Watanabe Enters IOC Presidential Race
- 09/16 20:24 LDP President Hopefuls Backward-Looking on Fiscal Consolidation
- 09/16 18:19 (Update 2) "Shogun" Wins Record-Breaking 18 Emmys
- 09/16 16:41 (Update) Japan H-2A Rocket Launch Postponed Again
- 09/16 14:56 (Update) Hiroyuki Sanada Wins Emmy for Lead Actor in "Shogun"
- 09/16 13:58 Hiroyuki Sanada Wins Emmy for Lead Actor in "Shogun"
- 09/16 10:53 Japan H-2A Rocket Launch Postponed Again
- 09/15 23:10 LDP's Hayashi Willing to Use Extralegal Means in Taiwan Emergency
- 09/15 22:11 Ishiba, Takaichi Struggle to Widen Support among LDP Lawmakers
- 09/15 18:29 Japan's Elderly Population Grows to Record 36.25 M.
- 09/15 17:36 1,300 Cyclists Participate in Tour de Tohoku 2024
- 09/15 15:52 CDP Leader Hopefuls Back Review of Japan-U.S. Status-of-Forces Pact
- 09/15 12:43 G-7 Foreign Ministers Condemn Iran's Missile Export to Russia
- 09/15 11:00 Microsatellite Built by Amateur Women Launched into Orbit
- 09/14 21:21 (Update) LDP Leader Candidates Discuss Possible Snap Election
- 09/14 18:54 Out-of-Pocket Costs for Off-Patent Drugs to Rise in Oct.
- 09/14 13:49 Biden Unlikely to Block Nippon Steel's Acquisition Soon: U.S. Paper
- 09/14 13:49 U.S. to Sell Aerial Refueling Aircraft to Japan for 4.1 B. Dollars
- 09/14 13:08 Japan, Russia Bureau-Chief-Level Officials Hold Talks
- 09/14 12:31 LDP's Takaichi Negative on BOJ Rate Hikes
- 09/13 22:10 Seven & i Categorized in Core Business Sector in Japan
- 09/13 20:55 Turkey Trip Eyed for Japan Crown Prince, Crown Princess
- 09/13 20:46 Japan Aims to Promote Rule of Law in Arctic
- 09/13 20:35 LDP Leader Candidates Negative on Probing Funds Scandal Again
- 09/13 20:12 (Update) Japan Govt, Plaintiffs Sign Deal on Forced Sterilization Suits
- 09/13 18:46 Quake-Hit Noto Shrine Crowdfunds with Sacred-Tree Soda
- 09/13 18:28 BOJ Unlikely to Change Rates at Meeting from Thurs.
- 09/13 17:38 Japan Govt, Plaintiffs Sign Deal on Forced Sterilization Suits
- 09/13 16:54 (Update) Japanese Baseball Star Aoki to Retire at End of 2024 Season
- 09/13 16:18 Reinvestigation Report Disclosed on Death of Bullied Asahikawa Girl
- 09/13 15:08 Japan Transport Min. Regrets JR Freight Data Fraud
- 09/13 15:07 (Update) Quad Summit to Be Held in Delaware on Sept. 21
- 09/13 14:29 Japanese Baseball Star Aoki to Retire at End of 2024 Season
- 09/13 13:47 Komeito's Ishii Stops Short of Declaring Leadership Bid
- 09/13 13:25 Japan May Increase Elderly with 30 Pct Medical Cost Burdens
- 09/13 12:45 Japanese Researchers Win Ig Nobel Prize for Intestinal Breathing
- 09/13 12:18 N. Korea Uses New Missile Launcher: State Media
- 09/13 11:00 Kishida Eager to Maintain Influence after Stepping Down
- 09/13 10:46 Quad Summit to Be Held in Delaware on Sept. 21
- 09/12 22:43 631 JR Freight Vehicles Suspended over Data Fraud
- 09/12 22:08 2 Russian Patrol Aircraft Fly along Japan Coast
- 09/12 20:44 Japanese Startup to Launch Lunar Lander as Early as Dec.
- 09/12 19:17 LDP President Hopefuls Vow to Regain Public Trust after Scandal
- 09/12 18:22 Niigata Starts Outside Shipments of Koshihikari Rice
- 09/12 18:21 3 Arrested for Alleged Laundering of Online Casino Money
- 09/12 18:18 (Update) LDP, Other Parties Demand Hyogo Governor's Resignation
- 09/12 18:13 Japan, Finland to Consider Defense Equipment Transfer
- 09/12 17:52 LDP Leader Hopeful Koizumi Reveals Reunion with Birth Mother
- 09/12 17:35 Use of My Number Card as Driver's License to Start March 24
- 09/12 17:34 LDP, Other Parties Demand Hyogo Governor's Resignation
- 09/12 16:35 (Update) Koizumi Favored for LDP Leadership, Followed by Ishiba: Jiji Poll
- 09/12 16:25 BOJ Rate Hikes to 1 Pct Needed for Inflation Target: Tamura
- 09/12 15:52 Japan Producer Prices Up 2.5 Pct in Aug.
- 09/12 15:26 Koizumi Leads LDP Leadership Race, Followed by Ishiba: Jiji Poll
- 09/12 14:44 Ex-Peruvian Pres. Fujimori, with Links to Japan, Dies at 86
- 09/12 14:16 Former Wife Pleads Not Guilty to Murder of "Don Juan of Kishu"
- 09/12 13:34 (Update) LDP Leadership Race Officially Begins with 9 Candidates
- 09/12 13:18 Japan Official Joins Brazil Event to Promote Fishery Products
- 09/12 12:36 (Update 2) N. Korea Fires Ballistic Missiles toward Sea of Japan
- 09/12 12:19 LDP Leadership Race Officially Begins with 9 Candidates
- 09/12 09:51 (Update) N. Korea Fires Ballistic Missiles toward Sea of Japan
- 09/12 07:44 N. Korea Fires Apparent Ballistic Missile
- 09/12 01:09 Japanese Forced Sterilization Victims Likely to Get 15 M. Yen Each
- 09/11 22:54 Japan Likely to Convene Parliament Oct. 1 to Elect Kishida's Successor
- 09/11 22:01 Financial Markets "Still Unstable": BOJ Policymaker
- 09/11 20:03 Japan, China, South Korea Set 40 M. Tourist Target
- 09/11 19:55 JR Freight Rail Yards Inspected over Data Fraud
- 09/11 18:28 Japan Imperial Family Branches to Share More via Social Media
- 09/11 18:26 Hyogo Governor Accused of Breach of Trust over Baseball Parade
- 09/11 18:23 NHK Faces Administrative Guidance over Chinese Staffer's Remarks
- 09/11 18:16 Japan Curry Rice Price Index Hits Record High of 342 Yen
- 09/11 17:54 LDP Mulls No-Confidence Motion against Hyogo Governor
- 09/11 17:50 (Update) Yen Surges, Nikkei Tumbles on Hawkish BOJ
- 09/11 17:14 (Update) Kamikawa Announces Bid for LDP Presidency
- 09/11 16:47 Osaka Moves Closer to IR after Operator Waives Right to Withdraw
- 09/11 16:03 Japan Parties Agree on Measures against For-Profit Election Posters
- 09/11 16:00 Koizumi Has Support from Ex-Min. Noda in LDP Election
- 09/11 15:06 Nippon Steel Vice Chairman to Meet U.S. Officials in Washington: FT
- 09/11 14:53 Kamikawa Announces Bid for LDP Presidency
- 09/11 13:48 Terminal Care at Home Surged in Japan during COVID-19 Pandemic
- 09/11 13:19 Panel Says Meta's Deletion of Comment against Japan PM "Error"
- 09/11 10:39 Univ. of Tokyo Announces Plan to Raise Tuition
- 09/11 00:55 Japan Crown Princess Kiko Turns 58
- 09/10 21:25 Women Make Up 60 Pct of Attempted Suicide, Self-Harm in Japan
- 09/09 13:29 Japan Logs Largest July Current Account Surplus
- 09/09 09:04 Japan April-June GDP Revised Down to Annual 2.9 Pct Rise
- 09/06 18:42 Japan Coincident Economic Index Rises in July
- 09/06 13:38 Japan Household Spending Up 0.1 Pct in July
