Strong Yen Adds to Challenge for Couche-Tard’s Seven & i Bid
- Yen is up 11% since early July, making takeovers expensive
- One expert says yen’s climb could even allow reverse takeover
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The yen’s rapid appreciation over the past month presents another hurdle to Alimentation Couche-Tard Inc.’s takeover proposal for Japan’s Seven & i Holdings Co.
A buyout by the Canadian convenience store operator, which would be the biggest-ever foreign acquisition of a Japanese company based on Seven & i’s current market capitalization, already faces questions in terms of potential funding and the target’s efforts to seek government protection.