Convenience store chain 7-Eleven has said that a special committee of its board has not yet completed its evaluation of the offer for the company made by Seven-Eleven Japan Co Ltd.
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“The special committee expects, in the near future, to complete its review and evaluation of the Offer, and inform 7-Eleven’s shareholders as to whether the special committee has determined: (i) to recommend acceptance or rejection of the tender offer; (ii) to express no opinion and remain neutral toward the tender offer; or (iii) to state that it is unable to take a position with respect to the tender offer, the company said.
The special committee requests that the shareholders of 7-Eleven not tender their shares with respect to the tender offer at the current time, and defer making a decision until the special committee has advised shareholders of its position or recommendation, if any, with respect to the tender offer.
