Canadian retailer Alimentation Couche-Tard has withdrawn its $47 billion takeover bid for Japan’s Seven & i Holdings, citing delays and a lack of constructive engagement.
The move ends a year-long effort to acquire the 7-Eleven parent and highlights broader questions about Japan’s openness to foreign takeovers.
Couche-Tard had raised its offer multiple times and proposed alternative structures, but accused Seven & i of obstructing the process.
Seven & i dispute the Canadian firm’s version of events and say they are disappointed in the decision.
This article was written by Eamonn Sheridan at www.forexlive.com.
