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Article: Seven-Eleven Japan offers $1.2 billion for rest of U.S. affiliate 7-Eleven
- Article from:
- AP Worldstream
- Article date:
- September 1, 2005
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Copyright informationProvided by ProQuest LLC. (Hide copyright information)
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AP Worldstream
09-01-2005
Dateline: NEW YORK
Seven-Eleven Japan Co. said Thursday it will launch a $1.2 billion (euro980 million) cash tender offer for the 27.3 percent stake it doesn't already own in its U.S. affiliate 7-Eleven Inc., in a move to take the world's largest convenience store chain private.
Seven-Eleven Japan _ which is Japan's largest convenience store operator with more than 10,000 locations _ is 51 percent owned by Japanese retailer Ito-Yokado.
The company, which already holds 72.7 percent of the U.S. 7-Eleven, has offered $32.50 a share in cash for the remaining shares. That represents a 15 percent premium over 7-Eleven's ...
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Article: Seven-Eleven Japan acquires the entire chain.
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