该公司试图以此证明，其业务要比Alimentation Couche-Tard提出的收购报价更有价值。该公司表示，新的暂定名称将是7-Eleven Corp.，并将截至明年2月底的12个月的营业利润预期下调至4030亿日元(约合27亿美元)。相比之下，之前的预测是5450亿日元，分析师的平均预测是5240亿日元。As the progress of ACT's acquisition further advances, Seven & i in japan will package non-core assets into a holding corp.
According to CCTime Finance, the Japanese retailer, parent company of 7-11 convenience stores$Seven Industries (7896.JP)$stated on Thursday that it will establish a holding corp for its non-core assets to attract external investments and plans for a renaming. This announcement marks the acceleration of its plan to enhance corporate value, focusing on its core convenience store business, partly in response to a takeover bid from Alimentation Couche-Tard.$ALIMENTATION COUCHE-TARD (ANCTF.US)$offer to acquire.
The operator of over 80,000 7-11 convenience stores globally has been under pressure from investors demanding the divestment of its vast peripheral business portfolio. Seven & i's briefing stated that the new company will include 31 subsidiaries, including the group's supermarket business, department stores Loft, baby products store Akachan Honpo, and the operating company of Denny's restaurants in japan.
The company is attempting to demonstrate that its business is more valuable than the acquisition quote proposed by Alimentation Couche-Tard. The company stated that the new tentative name will be 7-Eleven Corp., and it will lower the expected operating profit for the 12 months ending in late February next year to 403 billion Japanese yen (approximately 2.7 billion US dollars). In comparison, the previous forecast was 545 billion Japanese yen, and the average analyst forecast was 524 billion Japanese yen.
According to two sources on Wednesday, following the initial offer in August, ACT has raised its quote, valuing Seven & i at $47 billion, 22% higher than the original quote. Insiders revealed that Couche-Tard's new offer issued last month was $18.19 per share, over 20% higher than the previously rejected acquisition bid. If the transaction proceeds smoothly, this will be the largest overseas acquisition of a Japanese company in history.
Last week, sources mentioned that Seven & i is considering selling part of the supermarket department's equity, while reports suggest the company is contemplating selling part of Seven Bank's equity to enhance its acquisition defense capabilities. Over the past 5 years, Seven & i has been under pressure from foreign investors like ValueAct Capital and Artisan Partners to divest non-core businesses and focus on the convenience store business.
In August this year, Artisan urged Seven & i to seriously consider Couche-Tard's quote and "promptly" solicit bids for its Japanese subsidiaries. ValueAct stated in April that it supported Seven & i's announced plan to divest its supermarket business that month and voted in favor of the board appointment. Since the Canadian company's initial acquisition proposal in August, ValueAct has not made any comments.
Editor/ping
