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The Latest Breaking News from Seven I Holdings

Seven & i Crashes 9% After Couche-Tard Yanks $47 Billion Takeover Bid, Slams 'Lack of Good Faith' Talks — Tokyo Retail Giant Calls Move 'Unilateral'

Seven i Holdings (OTC:SVNDY) shares tumbled 9% on Thursday on the Tokyo exchange to a low of 2,000 Japanese Yen ($13.50) after Canada’s Alimentation Couche-Tard (OTC:ANCTF) withdrew its $47 billion takeover bid, citing “persistent lack of good faith engagement.” Trading resumed at 10:16 a.m. local time following a halt.

Benzinga

Asian Stocks Struggle As Traders Eye Fed Saga, Trade War

Asian markets fluctuated Thursday after a rollercoaster day on Wall Street punctuated by fears Donald Trump was considering sacking the head of the US Federal Reserve.

International Business Times

Canada's Couche-Tard's chief stresses 'friendly' interest in Japan's 7-Eleven chain

Canada’s Alimentation Couche-Tard has reiterated its determination to acquire Seven & i Holdings, although the operator of Japan’s top convenience store chain has rejected its offer

The Independent UK

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Will US convenience stores find the secret to selling better food?

Americans who think of petrified hot dogs, frozen burritos and salty snacks when they imagine getting food at a gas station or truck stop may be pleasantly surprised during their next road trip: U.S. convenience stores are offering them more and better — though not necessarily healthier — choices

The Independent UK

Global Markets React To Chinese Shares Plunge

Chinese shares decline, European markets advance, US futures lower. Japan prepares for election. Oil prices rise amid Middle East tensions.

Top News

S&P Futures Tread Water Ahead of FOMC Meeting Minutes and More Fed Speak

December S&P 500 E-Mini futures (ESZ24) are trending down -0.02% this morning as market participants awaited the Federal Reserve’s September meeting minutes and remarks from Fed officials.

Barchart

S&P Futures Tick Lower Ahead of FOMC Meeting Minutes and More Fed Speak

December S&P 500 E-Mini futures (ESZ24) are trending down -0.12% this morning as market participants awaited the Federal Reserve’s September meeting minutes and remarks from Fed officials.

Barchart

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7-Eleven Owner Rejects Initial Takeover Bid From Canadian Rival

The Japanese owner of 7-Eleven said Friday it had rejected a takeover bid from Canadian retail giant Alimentation Couche-Tard, saying the proposal "grossly undervalues" the company.

International Business Times

Washington attacks on Nippon’s bid for U.S. Steel puts ally Japan’s spot in ‘friends and family list’ into doubt

“If the U.S. draws up a friends and family list and Japan is not on that list, then I’d question [what country] would make that list.”

Fortune

7-Eleven’s Japanese owner wants to be considered as important as chipmakers as Circle K’s operator mounts a takeover bid

The convenience store operator is reportedly asking Tokyo for a “core” rating, which protects against foreign takeovers.

Fortune

Japan's Sogo & Seibu department stores are being sold to a US fund as 900 workers go on strike

Japanese retailer Seven & i Holdings Co. is selling department store chain Sogo & Seibu Co. to a U.S. investment fund, as the labor union went on strike ahead of the announcement

The Independent UK

Masatoshi Ito, Japanese billionaire behind the rise of 7-Eleven, dies at 98

Ito is widely credited with transforming the 7-Eleven into a household name in Asia

The Independent UK

U.S. investment fund eyes Sogo & Seibu

U.S. investment fund Fortress Investment Group LLC has obtained a preferential negotiation right to purchase major department store chain Sogo & Seibu Co., The Yomiuri Shimbun has learned.

The Japan News/Yomiuri

Japan's June flames out with record heat, but power crunch averted

Japan's electricity grid creaked on Thursday under the strain of Tokyo's hottest June since records began, but a power crunch that could have deprived tens of millions of electricity was narrowly averted and authorities prepared to lift warnings.

Reuters

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