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☆ 7-Eleven's parent company rejects $38.6 billion takeover bid, says offer 'grossly undervalues' company
▼ + stars: | 2024-09-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Photographer: Soichiro Koriyama/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSeven & i Holdings has rejected the takeover offer from Canadian convenience store operator Alimentation Couche-Tard , saying the offer "is not in the best interest" of its shareholders and stakeholders. According to LSEG data, the offer price will value Seven & i at $38.55 billion. In April, Seven & i announced a restructuring plan for the company, aimed at growing 7-Eleven's presence globally as well as divesting its underperforming supermarket business. Herrick explained Artisan asked Seven & i to consider the offer because the fund feels that capital allocation overseas has been overlooked. "You have more than 50,000 stores, or about 50,000 stores that are generating about $100 million or just over $100 million of operating profit for for the company.

Persons: Alimentation, Soichiro Koriyama, Tard, Stephen Dacus, Dacus, Alain Bouchard, Ben Herrick, Herrick Organizations: Seven, Holdings Co, Tard Inc, Bloomberg, Getty Images Bloomberg, Getty, Holdings, Tokyo Stock Exchange, litigating, Artisan Partners, Partners, & $ Locations: Kobe, Japan, U.S, Tokyo, United States

☆ What the border security bill would and wouldn’t do
▼ + stars: | 2024-02-06 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +12 min

The border bill also comes with a big budget – including large amounts of funding for enforcement. New emergency border restrictionsWhat’s proposed: Once illegal border crossings reach a certain threshold, the Department of Homeland Security would be required to exercise a new emergency authority that bars migrants, except unaccompanied minors, from crossing the border between ports of entry. Those who lose their asylum cases in immigration court can appeal to judges on the Board of Immigration Appeals. Video Ad Feedback GOP lawmaker on border bill: This is all gamesmanship 03:56 - Source: CNNGiven the growing chorus of criticism on both sides of the aisle weighing in just a day after its release, this latest border bill may very well be as “dead on arrival” as some lawmakers have claimed. But the bill has picked up some high-profile support from the National Border Patrol Council, the union that represents Border Patrol agents and has endorsed Trump in the past.

Persons: they’ve, That’s, Joe Biden, Donald Trump, —, ”, Muzaffar Chishti, Greg Chen, Chishti, “, Guillermo Arias, What’s, ” Amy Fischer, John Moore, it’s, Biden, Obama, Andrea Flores, ” Ben Johnson, CNN’s Priscilla Alvarez, Lauren Fox, Morgan Rimmer, Ted Barrett, Clare Foran Organizations: CNN, White, Republican, Institute, American Immigration Lawyers Association, DHS, Department of Homeland Security, Federation for American Immigration Reform, Border Patrol, Getty, Citizenship, Immigration Services, Immigration, Amnesty International, Congress, National Border Patrol Council, Trump, American Locations: Ukraine, Israel, harm’s, Mexico, Jacumba , California, U.S, Rio, El Paso , Texas, Kabul, United States, DACA

☆ Unreasonable? Israel's Judicial Overhaul Dismays Environmentalists
▼ + stars: | 2023-09-06 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +6 min

Under the changes passed so far, the government and ministers are now exempt from judicial oversight based on the so-called "reasonableness clause". The prime minister's office and ministries involved in the inquiry said they were not responsible. The 15-judge Supreme Court will hear an appeal on Sept. 12 against this amendment. It was launched before the judicial overhaul and sought a ruling based on the application of the reasonableness clause. The prime minister's office and environmental protection minister's office declined to comment for this article.

Persons: Ari Rabinovitch JERUSALEM, Amit Bracha, Adam Teva V'Din, Benjamin Netanyahu, Barry Levenfeld, Arnon Tadmor Levy, ATD, Netanyahu, Aryeh Deri, Silman, Netanyahu's, Lahav, Ari Rabinovitch, Edmund Blair Organizations: Tel, Israel Union, Environmental Defense, Supreme, Likud Locations: Tel Aviv, Herzliya

☆ RBC just raised its bet on this 'recession resistant' Canadian stock, giving it 20% upside
▼ + stars: | 2023-09-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

RBC has raised its bets on convenience store operator Alimentation Couche-Tard , doubling the weighting of the stock in its "Focus List: Fall 2023" bucket to 5%. The company, along with 26 other stocks, were also on RBC's "Summer 2023" list. Although the bank's stock list has underperformed over the past six months, it has historically and consistently beaten its benchmark S & P/TSX Index . The RBC Strategy Canadian Focus List returned 11.3% in compounded annual growth over the past five years. ATD-CA 5Y mountain Waste Connections RBC also doubled its weighting of U.S.-firm Waste Connections to 5% in its "Focus List: Fall 2023" bucket.

Persons: Irene Nattel, that's Organizations: RBC, RBC Strategy, Canadian, Capital Markets, TSX, Consumer Staples Locations: ATD

☆ Fact Check-ICE phones given to migrants have no data or calling services
▼ + stars: | 2023-05-18 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Mobile phones provided to some migrants by the U.S. Immigration and Customs Enforcement (ICE) for surveillance purposes do not have access to unlimited internet data or calling services, the agency said. Another example is viewable (here)An ICE spokesperson said in a statement that the Alternative to Detention (ATD) program uses technology to ensure compliance to immigration orders for migrants who are released from custody. ICE’s website says these must be returned upon completion or reassignment from the ATD program (www.ice.gov/features/atd). Senior Attorney Laura Rivera from Just Futures Law, an immigration legal group, also said that the devices do not allow calls, texts, or internet access. As of April 22, 2023, 90% of the immigrants in the ATD program used SmartLINK, according to ICE’s latest statistics (here).

☆ ValueAct loses its temper in 7-Eleven
▼ + stars: | 2023-05-10 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, May 10 (Reuters Breakingviews) - ValueAct Capital’s chief Mason Morfit prefers to chide undervalued conglomerates behind closed doors. In its latest 151-page presentation, ValueAct took its case directly to shareholders, the second time it has seen fit to do so in its history. That highlights the U.S. fund’s frustration from its two-year long campaign calling for Seven & i to spin off its 7-Eleven convenience stores, among other things. That implies a standalone 7-Eleven could be worth 10 trillion yen, roughly a quarter more than its parent today. He may have a point, and in truth ValueAct has far more experience turning around technology companies than food retailers.

☆ Engine Capital urges Parkland to consider sale, spinoff of non-core assets
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - Activist investor Engine Capital on Wednesday urged fuel marketer Parkland Corp (PKI.TO) to look at strategic alternatives including the sale or spinoff of non-core assets to become a more focused fuel and convenience retailer. Parkland has accumulated a range of assets that are not typically owned by pure-play fuel and convenience operators, said Engine Capital. Engine added it was "particularly troubled by Parkland's staggering underperformance" compared with Canadian convenience retailer Alimentation Couche-Tard (ATD.TO). "The letter has been circulated by management to the board of the company for its review and consideration," Parkland said in an e-mailed statement. Engine also urged the company to improve its compensation framework to better align management's incentives with shareholder interests.

☆ Canada petrol king shows belated faith in own plan
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 16 (Reuters Breakingviews) - Alimentation Couche-Tard (ATD.TO) is expanding its empire of petrol station rest stops. On Thursday, the $44 billion Canadian gas station giant said it would buy some of TotalEnergies’ (TTEF.PA) European assets for 3.1 billion euros. The swoop is also a sign that Couche-Tard is more confident in its own business model than in the recent past. Back then, it seemed Couche-Tard was looking to diversify its empire of highway rest stops. But if EV battery power or home-charging facilities improve, Couche-Tard’s business model may not stack up.

☆ Canada's Couche-Tard to buy some TotalEnergies stations in $3.3 bln deal
▼ + stars: | 2023-03-16 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The companies said that under the deal the Canadian firm would buy all of TotalEnergies' service stations in Germany and the Netherlands, as well as purchasing a 60% stake in the French company's stations in Belgium and Luxembourg. "Service stations must expand from just selling fuel to become fully-fledged service hubs," TotalEnergies CEO Patrick Pouyanne said in a joint statement. Since 2015, TotalEnergies has divested its service station networks in Italy, Switzerland and the United Kingdom. Couche-Tard said it plans to fund the deal with available cash along with existing credit facilities and new debt. In January 2021, Couche-Tard's $20 billion approach for Carrefour, Europe's largest food retailer, was rejected by the French government on food security concerns.

☆ These 3 stocks have gained every year for a decade — and are expected to keep rising
▼ + stars: | 2023-03-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Only three stocks are in the green this year and have had positive returns every year for the past decade, data shows. Insurance company Progressive Corp and aerospace manufacturing company TransDigm Group — both U.S. listed — along with Canadian convenience store operator Alimentation Couche-Tard are the only three stocks in the MSCI World Index to achieve this feat. The Canadian stock is also the largest holding in the only ETF that's posted gains yearly for the past decade . ATD has posted 725% in total returns and 23% CAGR over the past decade. TDG shares have risen by nearly 900% over the past decade in addition to this year, representing 25.4% in total CAGR.

☆ Retailer Carrefour plans more investment and savings
▼ + stars: | 2022-11-08 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Nov 8 (Reuters) - Carrefour (CARR.PA) will step up its expansion into e-commerce, slash costs and focus on cash generation as part of boss Alexandre Bompard's new strategy to accelerate the turnaround at Europe's largest food retailer amid soaring inflation. The French group, ahead of an investor presentation later on Tuesday, said it was aiming for a net free cash flow of over 1.7 billion euros ($1.7 billion) and 4 billion euros in cost savings in 2026. As a result, Carrefour said it was raising its annual investment target to 2.0 billion euros from 1.7 billion euros previously. Chairman and CEO Alexandre Bompard, who took the helm in July 2017, was reappointed in May 2021 for another three years. ($1 = 0.9996 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Carrefour plans investments and savings to tackle inflation
▼ + stars: | 2022-11-08 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

The French group, which also announced a media joint venture with ad giant Publicis , said on Tuesday it was aiming for 4 billion euros ($4 billion) in cost savings and for net free cash flow of over 1.7 billion euros ($1.7 billion) in 2026. As a result, Carrefour said it was raising its annual investment target to 2.0 billion euros from 1.7 billion euros previously. "Carrefour 2026 is a plan to be on the offensive in markets marked by inflation and climate change ... The partnership with Publicis in retail media will take the form of a joint venture in which Carrefour will hold a 51% stake, the group said. ($1 = 0.9996 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Canopy Growth to divest Canadian retail operations
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

Sept 27 (Reuters) - Canopy Growth Corp (WEED.TO) said on Tuesday it will divest its retail business across Canada, as the pot producer steps up efforts to turn profitable. The business includes stores operating under the Tweed and Tokyo Smoke retail banners. Canopy has been focusing on premium high-potency offerings and has undertaken cost cuts through layoffs, exits from some international markets and store closures in its bid to turn profitable. The master license deal between Canopy and Alimentation Couche-Tard Inc (ATD.TO) related to the use of the Tweed brand for brick-and-mortar retail stores operating in Ontario has also been terminated, it added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arunima Kumar in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Devino parte a Asociației Tinerilor Diplomați! Ce trebuie să faci ca să te înscrii
▼ + stars: | 2021-01-05 | by ( Onixmedia Srl | ) diez.md time to read: 1 min

Devino parte a Asociației Tinerilor Diplomați! Ce trebuie să faci ca să te înscriiAcum, poți deveni parte a Asociației Tinerilor Diplomați din Moldova. Alătură-te Asociației Tinerilor Diplomați și relevă chintesența diplomatică într-un mod interactiv, creativ și util. Completează formularul aferent și fă primul pas spre cunoașterea diplomației, politicii și a relațiilor internaționale în anturajul nostru”, comunică echipa ATD. Menționăm că Asociația Tinerilor Diplomați reprezintă comunitatea tinerilor care își propun promovarea diplomației în cadrul societății și dezvoltarea abilităților personale prin intermediul desfășurării evenimentelor aferente domeniului diplomatic.

Organizations: ATD Locations: Moldova

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