The Japanese owner of convenience store chain 7-Eleven has rejected a $38bn (£29.2bn) takeover bid from Canadian rival Alimentation Couche-Tard.
In a letter addressed to the prospective buyer, Seven & i Holdings said the Circle K owner’s offer “grossly” undervalued the company and was fraught with regulatory risk.
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If Circle K bought 7/11 then there wouldn’t be any reasonable competition in Canada, they aren’t wrong when they say “fraught with regulatory risk”.
It seems other monopolists and their oligopolies are doing fine.
