Couche-Tard abandons 6.8 trillion yen bid to buy 7-Eleven owner

Couche-Tard abandons 6.8 trillion yen bid to buy 7-Eleven owner

[TOKYO] Canada’s Alimentation Couche-Tard has abandoned its 6.8 trillion yen (S$59 billion) bid to buy Seven & i Holdings, saying the Japanese operator of 7-Eleven convenience stores had refused to engage meaningfully during the almost year-long pursuit. “There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal,…

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United Airlines profits dip but says Newark has rebounded

United Airlines profits dip but says Newark has rebounded

[NEW YORK] United Airlines reported a drop in second-quarter profits on Wednesday on higher costs and predicted a rise in travel as geopolitical worries ease. The carrier, which was forced to scale back operations at its New York-area hub for part of the quarter due to air traffic control problems, said it saw an increase…

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mm2 Asia seeks to delay S$54 million bond repayment by six years

mm2 Asia seeks to delay S million bond repayment by six years

[SINGAPORE] Embattled entertainment group mm2 Asia has proposed to amend a S$54 million-bond deal that was set for redemption in December. In a non-binding memorandum of understanding with its bondholder, identified as Tan Boon Seng, the struggling group is seeking to extend the bond maturity by six years to Dec 31, 2031. The move would…

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