Alimentation Couche-Tard Inc. says it has signed a non-disclosure settlement with Seven & i Holdings Co. Ltd. amid its pursuit to amass the Japanese guardian firm of 7-Eleven.
The Quebec-based firm, which operates Circle Ok shops, says the non-disclosure settlement is supposed to “progress transaction discussions, facilitate due diligence, and collaborate on plans to have interaction with regulators.”
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It cautions that it can not guarantee discussions between the 2 firms will lead to a transaction.
Final fall, Seven & i stated it obtained a revised non-binding proposal from Couche-Tard that media studies advised was valued at US$47 billion, about 22 per cent increased than a proposal it made in August.
However Seven & i stated in March that Couche-Tard was understating the antitrust danger associated to its takeover provide and that it will not enter right into a transaction with out a clear path to closing, regardless of Couche-Tard insisting it has a profitable observe report of working with U.S. and different regulators to safe transaction approvals.
Couche-Tard president and CEO Alex Miller says in a press release that he appreciates Seven & i “participating in substantive discussions relating to our proposal and offering entry to diligence,” including he appears to be like ahead to working collaboratively “within the pursuits of all stakeholders.”
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