Former 7-Eleven Director Dies
DALLAS -- In response to the death of Lew Platt, a former director of 7-Eleven Inc. for almost four years., Jim Keyes, 7-Eleven's president and CEO, said on Friday, "We at 7-Eleven were deeply saddened to hear the news today of Lew Platt's untimely passing and send our deepest sympathies to his family. His depth of experience and thoughtful approach made a lasting contribution to 7-Eleven. Mr. Platt was an outstanding individual and was widely admired for his integrity, compassion, and intellect. We are privileged to have had the opportunity to work with him."
In other 7-Eleven news, the company announced the special committee of its board of directors has retained Greenhill & Co., LLC as its financial advisor and Weil, Gotshal & Manges, LLP as its legal advisor to assist the special committee with its evaluation of the unsolicited tender offer initiated by Seven-Eleven Japan Co., Ltd. of $32.50 per share in cash for all of the outstanding shares of 7-Eleven's common stock that it does not currently own. The special committee is comprised of independent directors of 7-Eleven.
On or prior to Sept. 19, 2005, the special committee will advise shareholders as to whether it recommends acceptance or rejection of the tender offer or is unable to take a position. At such time, the special committee will include the reasons for its decision or discuss its inability to take a position.
The special committee recommends that 7-Eleven shareholders read the special committee's solicitation/recommendation statement regarding the unsolicited tender offer when it becomes available. Shareholders may obtain a free copy of the solicitation/recommendation statement, which will be filed by 7-Eleven with the Securities and Exchange Commission, at the SEC's Web site at www.sec.gov.
For now, the special committee recommends that shareholders postpone any decisions with respect to the Seven-Eleven Japan offer until the special committee has made its recommendation.
Also, in Illinois, Indiana and the Detroit metropolitan area, 7-Eleven stores will offer surcharge-free ATM transactions to TCF Bank Customers. The 583 ATMs in those areas will be labeled with TCF Bank signs inside 7-Eleven stores. TCF Bank customers will also be able to conduct surcharge-free transactions on 7-Eleven's Vcom kiosks, self-service machines that allow customers to cash checks, pay certain bills, conduct ATM transactions, transfer money and purchase money orders and stored-value cards.
The special committee recommends that 7-Eleven shareholders read the special committee's solicitation/recommendation statement regarding the unsolicited tender offer when it becomes available. Shareholders may obtain a free copy of the solicitation/recommendation statement, which will be filed by 7-Eleven with the Securities and Exchange Commission, at the SEC's web site at www.sec.gov.
For now, the special committee recommends that shareholders postpone any decisions with respect to the Seven-Eleven Japan offer until the special committee has made its recommendation.
In Illinois, Indiana and the Detroit metropolitan area, 7-Eleven stores will offer surcharge-free ATM transactions to TCF Bank Customers. The 583 ATMs in those areas will be labeled with TCF Bank signs inside 7-Eleven stores. TCF Bank customers will also be able to conduct surcharge-free transactions on 7-Eleven's Vcom kiosks, self-service machines that allow customers to cash checks, pay certain bills, conduct ATM transactions, transfer money, and purchase money orders and stored-value cards.
In other 7-Eleven news, the company announced the special committee of its board of directors has retained Greenhill & Co., LLC as its financial advisor and Weil, Gotshal & Manges, LLP as its legal advisor to assist the special committee with its evaluation of the unsolicited tender offer initiated by Seven-Eleven Japan Co., Ltd. of $32.50 per share in cash for all of the outstanding shares of 7-Eleven's common stock that it does not currently own. The special committee is comprised of independent directors of 7-Eleven.
On or prior to Sept. 19, 2005, the special committee will advise shareholders as to whether it recommends acceptance or rejection of the tender offer or is unable to take a position. At such time, the special committee will include the reasons for its decision or discuss its inability to take a position.
The special committee recommends that 7-Eleven shareholders read the special committee's solicitation/recommendation statement regarding the unsolicited tender offer when it becomes available. Shareholders may obtain a free copy of the solicitation/recommendation statement, which will be filed by 7-Eleven with the Securities and Exchange Commission, at the SEC's Web site at www.sec.gov.
For now, the special committee recommends that shareholders postpone any decisions with respect to the Seven-Eleven Japan offer until the special committee has made its recommendation.
Also, in Illinois, Indiana and the Detroit metropolitan area, 7-Eleven stores will offer surcharge-free ATM transactions to TCF Bank Customers. The 583 ATMs in those areas will be labeled with TCF Bank signs inside 7-Eleven stores. TCF Bank customers will also be able to conduct surcharge-free transactions on 7-Eleven's Vcom kiosks, self-service machines that allow customers to cash checks, pay certain bills, conduct ATM transactions, transfer money and purchase money orders and stored-value cards.
The special committee recommends that 7-Eleven shareholders read the special committee's solicitation/recommendation statement regarding the unsolicited tender offer when it becomes available. Shareholders may obtain a free copy of the solicitation/recommendation statement, which will be filed by 7-Eleven with the Securities and Exchange Commission, at the SEC's web site at www.sec.gov.
For now, the special committee recommends that shareholders postpone any decisions with respect to the Seven-Eleven Japan offer until the special committee has made its recommendation.
In Illinois, Indiana and the Detroit metropolitan area, 7-Eleven stores will offer surcharge-free ATM transactions to TCF Bank Customers. The 583 ATMs in those areas will be labeled with TCF Bank signs inside 7-Eleven stores. TCF Bank customers will also be able to conduct surcharge-free transactions on 7-Eleven's Vcom kiosks, self-service machines that allow customers to cash checks, pay certain bills, conduct ATM transactions, transfer money, and purchase money orders and stored-value cards.