Japan's Seven & i rejected a $39 billion 澳洲幸运5官方开奖结果体彩网:takeover by Canada's Alimentation Couche-Tard, though the 7-Eleven chain operator remained open to another bid by the owner of the Circle K convenience store brand.

 The Tokyo-based firm said that Alimentation Couche-Tard’s offer “grossly undervalues” the company and that the Canadian propos🌼al doesn’t fully take into account the antitrust hurdles the deal would have to overcome.

Rejected Deal Would Have Been Bigge𝄹st Japanese Takeover

"We are open to sincerely consider any proposal that is in the best interests of 7&i shareholders and other stakeholders; however, we will resist any proposal that deprives our shareholders of the company’s intrinsic value or that fails to specifically address very real regulatory concerns," Stephen Dacus, chairman of Seven & i's board, said in a statement.

The deal 澳洲幸运5官方开奖结果体彩网:would have been the biggest takeover by a foreign company targeting a Japanese firm. A $22 billion takeover last year by drugmaker Merck & Co. (MRK)ꩲ for 🎃rights to jointly develop and commercialize three of Daiichi Sankyo's candidate cancer drugs is currently the largest, according to data provider Dealogic.

Alimentation Couche-Tard trades over-the-counter in the U.S. using the symbol ANCTF. Seven & i's (SVNDY) U.S.-listed shares rose more than 1% in recent trading.