TOKYO -- Seven & i Holdings, the operator of the 7-Eleven convenience store chain, will send a letter to Canadian convenience store giant Alimentation Couche-Tard to inform it that its proposed acquisition price in a recent takeover offer is too low, and that competition law concerns also remain, Nikkei has learned.
According to a source familiar with the deal, Couche-Tard's takeover proposal -- which was preliminary and not legally binding -- included the acquisition of all shares for just under $15 per share in cash, making the total proposed purchase price around $40 billion.
