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The SEVEN & I shares were plunged on Thursday when the bidding resumed after a short stop after Canada’s Couche-Tard alimentation withdrew $ 47 billion to purchase a Japanese company.
Seven and shares and traded by 7.38% lower after a decrease in more than 9%, LSEG data showed.
The Couche-Tard store operator announced on Wednesday that it was drawing an application for seven and Japanese possessions, citing a “constant lack of conscientiousness”.
“Wasn’t honestly Canadian retailer said in a statement.
The 7-Eleven Store operator expressed disappointment at the “unilateral” termination of the Couche-Tard negotiations and the withdrawal of his application, and said he disagreed with many “inaccurate statements of the company”, said Google Seven & I in Japanese.
Performance of seven and stocks over the last year
The company in 2024 rejected the purchase application from Couche-Tard, which originally made A proposal of $ 14.86 per share Last August, saying “roughly underestimation” Campaign.
Ther-point ther Reportedly raised His proposal in October more than 22% to $ 18.19 per share, estimating seven and 7 trillion Japanese or about $ 47 billion.
“As we have expressed many times, we believe that the complete combination of our two companies is the easiest and most effective way to maximize the value for all stakeholders,” Kashtard said. “However, we cannot effectively continue this combination without a deeper and more true further interaction on the part of 7 and leadership and the special committee.”
Trading in Seven & I stock was suspended Thursday before resumed at 10.16am local time (Wednesday 21.16 ET)
“The mouth of Japanese protectionism has been too much to cross the koshe-tard,” said Andrew Jackson, head of the Japanese Ortus Advisors Strategy.
He added that he is always “very unlikely” that the transaction would be successful, given the Seven & I positioning as “one of the most successful world companies in Japan” and its classification as “main” to Japan’s national security.
Seven I I Holdings replaced Ryuichi ISAKA as CEO with “Welcome Director” Stephen Dakus in May.
– CNBC Lim Hui Jie contributed to this report.
