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Largest franchisee sweetens offer to buy 7-Eleven.
Publication: The Dallas Morning News (Dallas, Texas) (via Knight-Ridder/Tribune Business News) Publication Date: 22-OCT-05 |
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COPYRIGHT 2005 The Dallas Morning News
Byline: Karen Robinson-Jacobs
Oct. 22--A sweetened purchase offer disclosed Friday is expected to entice 7-Eleven Inc. shareholders to turn control of the U.S. convenience store pioneer over to its largest franchisee.
Rebuffed after its initial bid, Seven-Eleven Japan Co. Ltd. said it increased its tender offer by $5 to $37.50 a share for the 27.3 percent of the company that it does not already own. The news lifted the stock more than 4 percent to $37.36.
Analysts expect the $1.28 billion deal to go through, in part because it has management's...
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