Couche-Tard bid for 7-Eleven hits snag: Reports
It was just a week ago that Alimentation Couche-Tard submitted a friendly, non-binding proposal to Seven & i Holdings Co., Ltd. to acquire the company, the parent company of 7-Eleven Inc., in a deal said to be worth at $38 billion.
According to BNN Bloomberg Seven & i Holdings is asking the Japanese government to designate the company as a ‘core’ company under the “Foreign Exchange and Foreign Trade Act, an upgrade from its current “non-core” status under the law, said the people, asking not to be identified because the information isn’t public.”
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By taking on a ‘core’ company designation, Seven & i holdings would be able to argue that its convenience store operations are critical in ensure food and other essential supplier to persons in the event of a natural disaster and for people to access important municipal services and official government documents.
