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Seven & i Holdings Co (OTC:SVNDF) Stock, Option Chain

Seven & i Holdings operates 7-Eleven, the world's largest convenience store chain, with more than 84,000 stores, including nearly 49,000 operated by licensees globally. Convenience stores, mainly in Japan and North America, represent 86% of group sales (81% of operating revenue) and around 90% of operating profits. 7-Eleven Japan, the market leader in Japan's convenience store industry, has acquired 46% value share and 38% share in store count. 7-Eleven, the largest convenience store chain in the US, made a $21 billion acquisition of Speedway in 2020. The deal increased its total store count to more than 13,000. Other retail includes superstores and specialty retailers, both of which have low margins. The financial business, mainly ATM operations, is another key profit contributor.

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7-Eleven operator Seven &amp; i Holdings and Alimentation Couche-Tard have been in a back-and-forth $39-billion deal.

7-Eleven Store Operator Seven &amp; i Reclassified Under Japan&#39;s Investment Rules: What Does It Mean For $39B Couche-Tard Deal?

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7-Eleven owner, Seven &amp; i Holdings, rejected Alimentation Couche-Tard&#39;s $39 billion takeover bid, stating the deal undervalued the company.

7-Eleven Owner Rejects Takeover Offer, Shareholders Are Peeved: Will Couche-Tard Raise Bid?

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Seven &amp; i Holdings rejects a buyout offer of $14.86 per share as undervalued, stressing the need for fair valuation and addressing regulatory challenges.

Japanese 7-Eleven Operator Strikes Alimentation Couche-Tard&#39;s &#39;Undervalued&#39; $39B Takeover Offer

SEVEN & I HLDGS CO LTD by Seven & I Holdings Co., Ltd.

Seven & i Holdings Co Ltd

On Friday, Japan&#8217;s Ministry of Finance released a <a href="https://www.mof.go.jp/english/policy/international_policy/fdi/Related_Guidance_and_Documents/20240913.html" target="_blank" rel="noreferrer noopener">list</a> of 88 companies that serves as a guide for foreign investors.
The so-called &#8220;Classification List&#8221; under the Foreign Exchange and Foreign Trade Act (FEFTA) is meant to assess if companies must submit a prior notification when making inward direct investments or engaging in equivalent activities with Japanese-listed companies.
Initially released in May 2020, this update marks the sixth revision to the list. Along with other additions, the list included the much-talked-about Seven &amp; i Holdings Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDF#OTC">SVNDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>).
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40897882/retail-sales-rise-0-1-in-august-more-than-expected-boosting-odds-of-larger-fed-ra">Retail Sales Rise 0.1% In August, More Than Expected, Boosting Odds Of Larger Fed Rate Cut</a>
Earlier this month, 7-Eleven store operator&nbsp;Seven &amp; i rejected a takeover offer from&nbsp;Alimentation Couche-Tard Inc.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANCTF#OTC">ANCTF</a>), saying the deal&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40833437/7-eleven-owner-rejects-takeover-offer-shareholders-are-peeved-will-couche-tard-raise-bid" rel="noreferrer noopener">undervalues the company</a>.
However, the Canadian store operator Alimentation Couche-Tard remains interested in&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40765790/circle-k-owner-couche-tard-pursues-talks-with-7-11-operator-seven-i-after-38-5b-bid-rejected" rel="noreferrer noopener">the $39 billion deal</a>&nbsp;to bring the Japanese convenience store company under its roof.
The Japanese convenience store operator has received a &#8216;Core Business&#8217; rating. This refers to specific industries designated from the viewpoint of national security, etc., in public notice.
The Reuters report highlighted Japan Finance Minister Shunichi&nbsp;Suzuki&#8217;s take, stating that the classification may not hinder the proposed $39 billion buyout.
Previously classified as non-core, with the updated classification Seven &amp; i might be positioning itself to fend off a possible takeover attempt, the report added.
Citing a Japanese official, Reuters added that Japanese companies have traditionally been less attractive targets for M&amp;A. However, initiatives like this are gaining positive reception, particularly as Japan seeks to boost foreign direct investment. The Couche-Tard deal would also bolster Japan&#8217;s position in the global market.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Image: Unsplash

7-Eleven Store Operator Seven & i Reclassified Under Japan's Investment Rules: What Does It Mean For $39B Couche-Tard Deal?

Last week, 7-Eleven store operator Seven &amp; i Holdings Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDF#OTC">SVNDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>) rejected a takeover offer from Alimentation Couche-Tard Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANCTF#OTC">ANCTF</a>), saying the deal <a href="https://www.benzinga.com/m-a/24/09/40748758/japanese-7-eleven-operator-strikes-alimentation-couche-tards-undervalued-39b-takeover-offer" target="_blank" rel="noreferrer noopener">undervalues the company</a>.
ECanadian store operator Alimentation Couche-Tard remains interested in <a href="https://www.benzinga.com/markets/equities/24/09/40765790/circle-k-owner-couche-tard-pursues-talks-with-7-11-operator-seven-i-after-38-5b-bid-rejected" target="_blank" rel="noreferrer noopener">the $39 billion deal</a> to bring the Japanese convenience store company under its roof.
Couche-Tard, owner of the&nbsp;Circle-K brand, expressed willingness to make divestitures to gain regulatory approval.
Alimentation Couche-Tard is reportedly discussing an increased takeover offer, according to a Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-12/couche-tard-is-said-to-discuss-higher-price-for-7-eleven-owner" rel="noreferrer noopener">report</a> on Thursday.
The revised bid would likely be significantly higher than the initial value of $14.86 per share, Bloomberg reported. Couche-Tard has been evaluating how much it could potentially raise its offer.
Couche-Tard is facing a challenging situation. The price difference between both parties is so substantial that it greatly reduces the likelihood of a deal being made.
Seth Fischer, chief investment officer at Seven &amp; i shareholder Oasis Management, told Bloomberg that he&#8217;s &#8220;disappointed&#8221; over the rejected proposal.
&#8220;Couche-Tard has put forward a very serious proposal to the company and I am a little bit disappointed with the company&#8217;s reaction,&#8221; Fischer said.
Fischer added that there would be several buyers for Couche-Tard&#8217;s divestitures.
&#8220;Convenience stores in Japan are important in national emergencies,&#8221; Fischer said in a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-12/seven-i-shareholder-oasis-critical-over-turning-down-approach?srnd=phx-deals" target="_blank" rel="noreferrer noopener">report</a>, adding that most 7-Elevens are within 500 meters of other stores. &#8220;Maybe that means some of those stores should be sold to a domestic owner&#8221; in case of any merger.
Now Read: <a href="https://www.benzinga.com/m-a/24/09/40748758/japanese-7-eleven-operator-strikes-alimentation-couche-tards-undervalued-39b-takeover-offer">Japanese 7-Eleven Operator Strikes Alimentation Couche-Tard&#8217;s &#8216;Undervalued&#8217; $39B Takeover Offer</a>
Image: Unsplash

Friday, Japanese convenience store operator Seven &amp; i Holdings Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDF#OTC">SVNDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>) <a target="_blank" href="https://www.benzinga.com/markets/asia/24/08/40448182/7-eleven-may-become-canadian-how-japanese-chain-could-change" rel="noreferrer noopener">rejected a takeover offer</a> from Alimentation Couche-Tard Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANCTF#OTC">ANCTF</a>).
Two weeks ago, Alimentation, the convenience store operator, proposed an offer to buy&nbsp;Seven &amp; I, the&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/7-eleven" rel="noreferrer noopener">owner of 7-Eleven.</a> Alimentation bid $31 billion, according to a&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-19/couche-tard-made-buyout-offer-for-seven-i-nikkei-reports?srnd=homepage-americas&amp;sref=TBDibEcD" rel="noreferrer noopener">report&nbsp;</a>from Bloomberg.
If the transaction were approved, the proposed deal would be the biggest-ever foreign takeover of a Japanese firm.
In a letter, Seven &amp; i <a target="_blank" href="https://www.7andi.com/library/dbps_data/_material_/localhost/en/release_pdf/2024_0906_ir01en.pdf" rel="noreferrer noopener">rejected</a> an unsolicited proposal to purchase all outstanding shares at $14.86 each. The decision was announced following a meticulous review by a Special Committee of independent directors.
Seven &amp; I&#8217;s board found the current proposal, described as opportunistic and significantly undervalued, inadequate for further discussions.
The proposal&#8217;s timing and valuation were criticized, with the board arguing that they undervalued the company&#8217;s independent growth potential and strategic initiatives, particularly in the U.S. market.
Additionally, the board highlighted substantial regulatory challenges the proposed transaction could face, noting the lack of a clear plan to overcome these obstacles or ensure transaction closure.
While acknowledging the vital role of Seven &amp; I in Japan&#8217;s food retail and banking sectors, the board remains open to negotiations that fully recognize the company&#8217;s value and can navigate the regulatory landscape effectively.
According to a Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-06/seven-i-drops-on-plans-to-tell-couche-tard-proposal-is-too-low" rel="noreferrer noopener">report</a>, the deal, valued at $39 billion, is too low and carries regulatory risk. Seven &amp; I also signaled its willingness to consider a sweetened offer.
&#8220;We are open to sincerely consider any proposal that is in the best interests of 7&amp;i shareholders and other stakeholders,&#8221; committee chair&nbsp;Stephen Dacus&nbsp;wrote in the letter. &#8220;However, we will resist any proposal that deprives our shareholders of the company&#8217;s intrinsic value or that fails to specifically address very real regulatory concerns.&#8221;
Reuters points out that although the offer was turned down, Couche-Tard&#8217;s proposal highlights the increasing attention Japanese firms are receiving from Western investors, attracted by Japan&#8217;s efforts to improve corporate governance.
7-Eleven is the biggest U.S. convenience store operator with a 14.5% market share in 2023, and Couche-Tard&#8217;s brands had a 4.6% share, Reuters noted, citing GlobalData.
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Photo by Terence Toh Chin Eng via Shutterstock

Japanese 7-Eleven Operator Strikes Alimentation Couche-Tard's 'Undervalued' $39B Takeover Offer

Seven &amp; I Holdings Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDF#OTC">SVNDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>) is contemplating a potential listing of Ito-Yokado as it <a href="https://www.7andi.com/en/ir/">seeks </a>to separate it from its more lucrative 7-Eleven franchise.
The company plans to create a globally integrated CVS management structure, including Japan and North America, with a unified leadership.
The Superstore (SST) business will aim to establish a refined management/business structure to provide employees with autonomy to pursue re-growth.
The retailer&#8217;s board and strategic committee will devise a plan for the separation and public offering of the legacy operation.
In response to pressure from&nbsp;ValueAct Capital Management&nbsp;last year, Seven &amp; I has initiated steps towards improving its valuation and embracing structural reform, reported&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-10/seven-i-climbs-on-reports-it-will-sell-ito-yokado-stores-unit?sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
This includes potential store closures to boost performance. The reorganization aims to grant employees autonomy in driving growth and strategic decision-making.
Previously, Seven &amp; I had announced a collaboration with its supermarket unit to diversify product offerings in its larger convenience stores.
The company has also disclosed plans for share buybacks and a stock split. In its latest fiscal year, Seven &amp; I recorded a 5.5% increase in operating profit despite a slight decline in net sales. The company&#8217;s outlook for the current year slightly trails analysts&#8217; projections, as per the report.
CEO Ryuichi Isaka addressed investor concerns earlier this year, emphasizing the need to replicate the success of 7-Eleven Japan&#8217;s food business globally.
As per the report, Seven &amp; I has pushed back against calls for breakup, arguing it would harm shareholder value.
The status of ValueAct&#8217;s stake remains uncertain, with the investor no longer listed as a significant shareholder. However, it&#8217;s plausible that ValueAct still holds an indirect stake in the company, the report further noted.
Price Action: SVNDF shares traded lower by 1.81% at $14.33 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Seven & I Holdings Contemplates Separation Of Retail Arm, Shifts Focus To 7-Eleven Expansion

Seven &amp; I Holdings Co (OTC: SVNDF) reported a 7.3% drop in its net profit for the first nine months of its fiscal year.

Seven &amp; I's net profit for the period declind to Y83.7 billion, from Y90.2 billion, in the year-earlier period. Its operating profit surged to Y216.2 billion from Y175.8 billion. Its revenue dropped to Y3.55 trillion from Y3.83 trillion. 

Seven &amp; I continues to expect a net profit of Y127 billion, versus Y112 billion for the 12 months ended February 2011. However, it projects 
revenue to drop to Y4.78 trillion, versus Y5.12 trillion a year earlier.

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