7-Eleven owner rejects $38.7bn buyout offer from rival
www.bbc.com
The Japanese owner of convenience store chain 7-Eleven has rejected a $38bn (£29.2bn) takeover bid from Canadian rival Alimentation Couche-Tard.
In a letter addressed to the prospective buyer, Seven & i Holdings said the Circle K owner's offer "grossly" undervalued the company and was fraught with regulatory risk.
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