(Bloomberg) -- Alain Bouchard, founder and chairman of Canada’s Alimentation Couche-Tard Inc., says he isn’t considering a hostile takeover bid for Seven & i Holdings Co. while keeping his proposal for a ¥7.3 trillion ($47.3 billion) buyout on the table, according to a Nikkei report.
After Bouchard and Couche-Tard executives traveled to Tokyo last month to seek a meeting with the Japanese retailer’s management, a competing ¥9 trillion management buyout proposal came from the founding Ito family with support from banks and Itochu Corp.
Seven & i’s board has yet to respond to either offer.
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