Seven & i Holdings Comments on News Reports Regarding Acquisition Proposal

TOKYO, Aug. 19, 2024 /PRNewswire/ -- Seven & i Holdings ("the Company") today made the following comment in response to media reports stating it has received an acquisition proposal by Alimentation Couche-Tard Inc. ("ACT").

The Company confirmed that it has received a confidential, non-binding and preliminary proposal by ACT to acquire all outstanding shares of the Company. The Board of Directors of the Company has formed a Special Committee of the Board of Directors, comprised solely of independent outside directors, led by Stephen Hayes Dacus, as Chairperson of the Board of Directors, to review the proposal. Consistent with its obligation to act in the best interest of its shareholders and other stakeholders of the Company, the Special Committee intends to conduct a prompt, careful and comprehensive review of the proposal, the Company's stand-alone plans and other alternatives for enhancing corporate value, after which a response will be made to ACT. 

Neither the Board of Directors nor the Special Committee has made any determination at this time to either accept or reject the proposal from ACT, to enter into discussions with ACT or to pursue any alternative transaction.

The Company will promptly announce when the Company decides or has matters to be disclosed.

Media Contacts
Kekst CNC
Ruth Pachman / Nathan Riggs
[email protected] / [email protected]  

SOURCE Seven & i Holdings Co., Ltd.