Lee_Sakura
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The Japanese owner of 7-Eleven has turned down a $38 billion acquisition proposal from Alimentation Couche-Tard, its Canadian competitor.
In a letter sent to the potential buyer, Seven & i Holdings stated the offer from Circle K "grossly" undervalued the agency and had a high level of regulatory risk.
However, the 7-Eleven owner added that he is open to further discussions and receptive to alternative proposals.
Should it succeed, the merger would establish a worldwide convenience store titan with 100,000 outlets.
In a letter sent to the potential buyer, Seven & i Holdings stated the offer from Circle K "grossly" undervalued the agency and had a high level of regulatory risk.
However, the 7-Eleven owner added that he is open to further discussions and receptive to alternative proposals.
Should it succeed, the merger would establish a worldwide convenience store titan with 100,000 outlets.