Alimentation Couche-Tard Inc. has reportedly offered between $7.5 billion and $8 billion to acquire Cumberland Farms, the U.S.-based retailer formerly known as EG Group, The Times of London reported.
The reported offer comes as Cumberland Farms weighs its options following delays to a planned U.S. initial public offering. The company filed confidential plans for a U.S. listing in June, targeting a valuation of more than $9 billion and an approximately $1 billion capital raise.
The potential deal would revisit acquisition discussions between the companies. In 2022, Couche-Tard and EG Group had explored a potential merger, with the business valued at approximately $16 billion. The latest reported bid is substantially below that earlier valuation, as well as the company's IPO target.
Neither Couche-Tard nor Cumberland Farms immediately responded to requests from The Times for comment on the reported offer.
Full story Couche-Tard Reportedly Bids Up to $8B for Cumberland Farms | Convenience Store News
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