“NO ELECTRICITY, NO VOTE,” SOUTH AFRICANS THREATEN TO SHUN RULING PARTY ANC. (PHOTO)

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 “No electricity, no vote,” South Africans threaten to shun ruling party ANC Residents in Katlehong, a township outside Johannesburg, have resolved to boycott South Africa's upcoming local elections on November 4 due to long-standing failures by authorities to provide basic services like electricity. For over 20 years, around 180 households in the community have relied on illegal electrical connections pulled from neighboring areas to power their homes. Angry over the lack of formal grid infrastructure, residents are directing their frustration at the ruling African National Congress (ANC). "We have made a collective decision: no electricity, no vote," said community leader Lesiba Rankapole, 59. "We know it is illegal, but we had no choice because we cannot live without electricity. Our children cannot progress without electricity." "I was born ANC, but today I do not want anyone to tell me about the ANC because I am suffering," added 57-year-old resid...
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7-ELEVEN OWNER REJECTS $38 BILLION TAKEOVER BID FROM CANADIAN RIVAL. (PHOTO).

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7-Eleven Owner Rejects $38 Billion Takeover Bid from Canadian Rival 


The Japanese owner of 7-Eleven, Seven & i Holdings, has rejected a $38 billion takeover bid from Canadian company Alimentation Couche-Tard (ACT), citing that the offer "grossly undervalued" the business and raised significant regulatory concerns. While Seven & i expressed openness to further negotiations, they emphasized that ACT's initial proposal was "opportunistically timed" and did not reflect the true value of the company or its potential for future growth. The takeover, if successful, would create a global convenience store giant with over 100,000 stores worldwide.


ACT, which operates around 17,000 stores under the Circle K and Couche-Tard brands, valued Seven & i at $14.86 per share, representing a 20% premium over its pre-announcement share price. The offer came at a time when the Japanese yen is weak against the US dollar, making Seven & i more affordable to foreign buyers. However, the Japanese retail giant flagged potential challenges from US competition regulators and reiterated that the deal was not aligned with its shareholder value goals.


The potential acquisition would mark the first time a Japanese company of Seven & i's size has been bought by a foreign firm. Historically, Japan has been more inclined to purchase overseas businesses rather than sell national assets. Experts suggest that if the deal succeeds, it could signal Japan's openness to foreign investment, though the negotiation process is expected to be long and complex.

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