Stock Market News

Seven & i shares give up some gains after Couche-Tard bid

2024.08.19 21:40

TOKYO (Reuters) – Shares of Japan’s Seven & i Holdings fell by almost 6% in morning trade on Tuesday, giving up some of their gains from the previous day, when they surged on news of a takeover proposal from Canada’s Alimentation Couche-Tard.

While the value of the offer has not been disclosed, it would make the 7-Eleven owner the largest-ever Japanese target of a foreign buyout. Couche-Tard owns the Circle-K chain of convenience stores.

Seven & i said Couche-Tard has proposed buying all of its outstanding shares, while the Canadian company confirmed a “friendly proposal” was sent to Seven & i, adding it was focused on reaching a mutually agreeable transaction.

Seven & i shares were down 5.7%, after losing more than 12% shortly after the open. On Monday, the news of the deal sent the company’s shares surging by almost 23% in Tokyo, valuing the retailer at around 5.6 trillion yen ($38 billion).

© Reuters. A pedestrian walks past Japan's Seven & I’s 7-Eleven convenience store in Tokyo, Japan August 19,  2024. REUTERS/Kim Kyung-Hoon

Couche-Tard, which operates Circle-K convenience stores, is valued at roughly $58 billion.

($1 = 146.2800 yen)



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 83,606.40 0.72%
ethereum
Ethereum (ETH) $ 1,900.69 1.05%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.33 1.68%
bnb
BNB (BNB) $ 631.69 4.05%
solana
Solana (SOL) $ 129.14 3.85%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.72337 1.69%
dogecoin
Dogecoin (DOGE) $ 0.172986 0.89%
tron
TRON (TRX) $ 0.214074 2.19%
staked-ether
Lido Staked Ether (STETH) $ 1,896.98 1.22%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,321.32 0.86%
pi-network
Pi Network (PI) $ 1.38 6.92%
leo-token
LEO Token (LEO) $ 9.81 0.72%
chainlink
Chainlink (LINK) $ 13.76 2.45%
the-open-network
Toncoin (TON) $ 3.42 1.37%
stellar
Stellar (XLM) $ 0.272872 0.11%
usds
USDS (USDS) $ 1.00 0.00%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,270.53 1.15%
hedera-hashgraph
Hedera (HBAR) $ 0.192217 0.20%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.84%
avalanche-2
Avalanche (AVAX) $ 18.56 3.90%
sui
Sui (SUI) $ 2.30 0.97%
litecoin
Litecoin (LTC) $ 92.25 0.33%
mantra-dao
MANTRA (OM) $ 6.84 3.71%
polkadot
Polkadot (DOT) $ 4.39 1.73%
bitcoin-cash
Bitcoin Cash (BCH) $ 333.11 1.52%
ethena-usde
Ethena USDe (USDE) $ 0.999912 0.02%
bitget-token
Bitget Token (BGB) $ 4.44 0.54%
weth
WETH (WETH) $ 1,900.09 1.04%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.27%
hyperliquid
Hyperliquid (HYPE) $ 13.65 0.20%
whitebit
WhiteBIT Coin (WBT) $ 28.53 1.15%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,020.88 1.01%
monero
Monero (XMR) $ 209.43 1.43%
uniswap
Uniswap (UNI) $ 6.16 1.51%
susds
sUSDS (SUSDS) $ 1.04 0.07%
dai
Dai (DAI) $ 1.00 0.04%
aptos
Aptos (APT) $ 5.35 0.80%
near
NEAR Protocol (NEAR) $ 2.55 3.76%
okb
OKB (OKB) $ 49.55 6.44%
pepe
Pepe (PEPE) $ 0.000007 2.59%
mantle
Mantle (MNT) $ 0.83004 4.48%
internet-computer
Internet Computer (ICP) $ 5.72 1.83%
gatechain-token
Gate (GT) $ 21.90 1.05%
ethereum-classic
Ethereum Classic (ETC) $ 17.80 0.35%
ondo-finance
Ondo (ONDO) $ 0.850978 2.03%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,552.39 0.79%
aave
Aave (AAVE) $ 168.06 2.87%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.10 0.58%