Seven & i Hints at May Decision on Buyout Offers

Tokyo, Jan. 9 (Jiji Press)--Seven & i Holdings Co. may make a decision as early as May on buyout offers from Canadian convenience store operator Alimentation Couche-Tard Inc. and its founding family, Managing Executive Officer Yoshimichi Maruyama said Thursday.

"As one scenario, we are working toward the general shareholders meeting in May while thinking about what is the best way," Maruyama told an online earnings briefing.

It is the first time that a Seven & i official has publicly commented on the timing of the decision.

The Japanese retail group received Alimentation Couche-Tard's takeover proposal last July. To counter the bid, the founding family has proposed a management buyout. A special committee is reviewing the proposals.

"The point is which choice will increase the corporate value and shareholder value the most," Maruyama noted. He also mentioned the option of the firm seeking to grow on its own.

[Copyright The Jiji Press, Ltd.]