Consequently,
A-toltard towners ready actuction seven:
Food Pout-Tard announces having withdrawn its offer of acquisition from Seven & i. For example, Holdings “due to a lack of constructive commitment” from the Japanese company behind the 7-Eleven channel.
The Quebec convenience store giant indicated that he had transmitted a letter to the board of directors of Seven & I. Therefore, which he made public in a statement released on Wednesday evening.
The letter is signed by the president. Moreover, chief executive officer, Alex Miller, as well as by the founder and president and director of the board of directors of Couche-Tard, Alain Bouchard.
The two men recall the proposal that the company based in Laval submitted to the Japanese company at. Meanwhile, the start of the year. In addition,
For some time. we have been trying to initiate a dialogue with your a-toltard towners ready actuction seven special committee on this proposal by means of constructive and friendly discussions during which we have clearly demonstrated that our proposal is entirely funded and that there is a clear path to obtain regulatory approvals
they write.
We have repeatedly attempted to establish a friendly dialogue with the Ito family. but the latter has not been open to the discussion. We have also indicated that there could be an opportunity to improve the economic methods of our proposal if. access to additional information for the purpose of diligent verification was granted to us
continue the two leaders of Couche-Tard.
The Holding Seven & I, owner of the 7-Eleven channel, operates more than 85,000 stores worldwide. (Archives photo)
Photo : AP / Ted Shaffrey
No sincere or constructive commitment
– A-toltard towners ready actuction seven
MM. Bouchard and Miller claim to have been very patient and respectful throughout this process
.
But since the conclusion of the Privacy Convention last spring. There was no sincere or constructive commitment from 7 & I in order to facilitate the progress of a proposal
they deplore.
They believe that the quantity and content of the authorized diligent verification have been negligible
. They accuse representatives of Japanese society of having Rather delivered to a calculated campaign of a-toltard towners ready actuction seven concealment. delay, to the great detriment of 7 & I and its shareholders
.
We believe that this approach strengthens our concerns about your governance approach. On the basis of this persistent lack of commitment in good faith, we withdraw our proposal
mention MM. Bouchard and Miller.
With Canadian press information
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