※2024/08/20 22:18 Yomiuri Shimbun Seven & i Holdings, which received an acquisition proposal from a major Canadian convenience store chain, has set up a special committee made up of outside directors to examine the details of the proposal. The background to this is that the Ministry of Economy, Trade and Industry has formulated guidelines regarding corporate takeovers, calling on companies that receive takeover proposals to give them serious consideration. The response of US competition authorities is also likely to be a focus of attention. (Tomohiko Kanai, Yasuhiro Kobayashi, New York) ■ The British newspaper Financial Times reported on the 20th that the US competition authorities are likely to object to the acquisition of Seven & i by Canadian convenience store giant Alimentation Couche-Tard. The reason is that a merger between the two companies could lead to higher prices for goods and services, which could have a negative impact on consumers. Seven & i shares hit the upper limit of the price range on the Tokyo Stock Exchange the previous day, but on the 20th they suddenly fell, closing down 10%. Couche-Tard has not disclosed its specific investment ratio or method of acquiring the shares, and this appears to have led to a widespread view among investors that the acquisition will be difficult to achieve. Headquartered in Quebec, Canada, Couche-Tard was founded in 1980 and has expanded its business through repeated corporate acquisitions. In 2001, the company entered the US market by acquiring a convenience store in the Midwest, and in 2003 it acquired the company that operates Circle K. Co-founder and Chairman Alain Bouchard has long expressed an interest in Seven & i as it expands into the Asian market. According to Bloomberg News, the company also made a takeover proposal around 2005. The proposal was made again in 2020, but has not been implemented. According to research firm Statista, as of 2011, 7-Eleven was the number one convenience store chain in the United States with approximately 13,000 stores, followed by Couche-Tard with approximately 6,000 stores. Continue reading below.
The Financial Times reported on the 20th that US competition authorities are likely to object to Canadian convenience store giant Alimentation Couche-Tard’s acquisition of Seven & i. The reason is that a merger between the two companies could lead to higher prices for goods and services, which could have a negative impact on consumers. America is strict.
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This must have been the move of someone who held a lot of Seven-Eleven stock. They must have hinted at an acquisition, raised the price, and then sold it off.
Actually, why did they raise it the day before? It was so bad people were laughing at the initial report. Some people were confused as to which one to buy.
There is little chance that this acquisition will come to fruition, but the problem is that a major player in the industry is now being targeted by foreign capital.
From the perspective of a former employee, I would be very happy to see the company acquired by a foreign company if it could at least eliminate some of the shitty owners who were so strict with power harassment and sexual harassment, who didn’t allow employees to take paid leave, and who made employees engage in self-destructive sales and buying practices.
A lot of the added value created by employees who work like slave labor for low wages is included in the name of the business. The root cause of due diligence errors when foreign capital acquires Japanese companies.
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