Seven & I Holding (SVNDY) — the parent company of convenience store 7-Eleven — turned down a $38.5 billion buyout offer from Couche-Tard (ATD.TO). The Canadian convenience store giant is now considering raising its offer for the Japanese-owned Seven & I. General Mills (GIS) will sell its North American yogurt business for $2.1 billion to French dairy operators Groupe Lactalis and Sodiaal. Lastly, British alcohol brand Diageo (DEO) — the parent of Guinness and Captain Morgan — received a stock upgrade to Buy from Bank of America analysts. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
Investing.com-- Alimentation Couche Tard Inc (TSX:ATD) is considering increasing its takeover offer for Seven&i Holdings (TYO:3382) after the Japanese convenience store operator shot down an earlier approach from the Canadian retail firm, Bloomberg reported on Thursday.
(Bloomberg) -- Seven & i Holdings Co. shareholder Oasis Management is “disappointed” that the Japanese retailer rejected Alimentation Couche-Tard Inc.’s acquisition proposal, according to the founder of the activist investment firm.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025UC Berkele