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Top related persons:
Ben Herrick - 2 Alimentation - 2 Soichiro Koriyama - 1 Tard - 1 Stephen Dacus - 1 Dacus - 1 Alain Bouchard - 1 Herrick - 1
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Kobe Japan U.S Tokyo United States
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Artisan Partners - 2 Seven - 2 Holdings Co - 1 Tard Inc - 1 Bloomberg - 1 Getty Images Bloomberg - 1 Getty - 1 Holdings - 1

Search resuls for: "Ben Herrick"


3 mentions found


☆ Portfolio manager discusses Couche-Tard's bid for Seven & i
  + stars: | 2024-10-18 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCouche-Tard is 'extraordinarily disciplined' on the capital allocation front: Portfolio managerBen Herrick, associate portfolio manager at Artisan Partners, discusses Alimentation Couche-Tard's bid for Seven & i and regulatory concerns.
Persons: Ben Herrick, Alimentation Organizations: Artisan Partners, Seven
☆ 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
☆ Investor pressure builds for Seven & i shake-up, including 7-Eleven spin off
  + stars: | 2023-04-05 | by ( Svea Herbst-Bayliss Makiko Yamazaki | Svea Herbst-Bayliss | Makiko Yamazaki | ) www.reuters.com   time to read: +3 min
"We think the company should spin off 7-Eleven and that this could help close the valuation discount," Artisan Partners Associate Portfolio Manager Ben Herrick, told Reuters. Investors, including Artisan Partners, ValueAct and a domestic institutional investor contacted by Reuters that is not permitted to discuss its views publicly, are blaming Seven & i's stagnant share price on management's attachment to a conglomerate structure. SPIN-OFF PROPOSALThree months ago, ValueAct proposed a tax free spin-off of 7-Eleven, via a listing on the Tokyo Stock Exchange in roughly one year. One investor said 7-Eleven, the company's crown jewel, will stop shining brightly unless it is spun off. A source said Seven & i president Ryuichi Isaka is one of the board members ValueAct wants to replace.
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