Couche-Tard disappointed after 7-Eleven owner rejects takeover offer [Video]

Alimentation Couche-Tard Inc. says it is “disappointed” in a refusal of its takeover offer by the Japanese owner of 7-Eleven and remains focused on reaching a deal.

In a news release Sunday, the Quebec-based convenience store operator argued its proposal offers clear strategic and financial benefits and it believes the two companies can reach a mutually agreeable transaction.

Seven & i said in a statement Monday that it remains open to talks if Couche-Tard puts forth a proposal that “fully recognizes Seven & i’s stand-alone intrinsic value” and addresses its regulatory concerns.

“As our board has previously discussed and stated, we do not believe that the proposal (Couche-Tard) put forward provides a basis for us to engage in substantive discussions regarding a potential transaction,” the company said.

On Friday, Seven & i said it was rejecting the takeover offer.

In a letter to the Quebec company, Seven & i …