“If, at first, you don’t succeed… try, try again…” It’s an old motto of determination and persistence. And one that Canadian company Alimentation Couche-Tard has clearly taken to heart.
In August, Asian media outlets reported that the Canadian convenience store giant submitted a friendly offer to buy Seven & I Holdings Inc. (OTC: SNVDY) of Japan for $38.5 billion. Seven & I Holdings is the primary owner of 7-Eleven convenience stores in both the U.S. and Japan.
After its initial offer was rebuffed, Couche-Tard submitted a second offer to buy the Japanese giant — this time raising Seven & I’s valuation more than 20%.
The deal would be worth around $47 billion and, if it happens, would be the largest acquisition of a Japanese company by a foreign one.
This post appeared first on Money & Markets, LLC.