The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare.
Part 1 — 7-Eleven’s IPO announcement comes as takeover bid continues
Seven & i Holdings, the Japanese-owned convenience store conglomerate and 7-Eleven’s parent company, has announced it is pursuing an IPO for its North American businesses to streamline operations and increase shareholder value in one go. The decision comes as the company is in talks to sell this portion of its business to Alimentation Couche-Tard, the Canadian-owned operator of Circle K.
As talks between both parties have dragged on, taking the business public while in active negotiations may be a tactic to increase the valuation of 7-Eleven’s North American operations and boost shareholder sentiment. 7-Eleven’s ownership group has also hired Stephen Dacus, its first non-Japanese CEO, to lead the initiative.
The pushback against the takeover is well documented. Before its strategic restructuring, the company’s board unanimously rejected ACT’s nearly $40 billion acquisition proposal, calling the offer a “grossly” undervaluing bid.
Part 2 — This week
Here’s a list of important market events slated for the week ahead.
Monday, March 10 — None scheduled
Tuesday, March 11
- NFIB optimism index, Feb.
- Job openings, Jan.
Wednesday, March 5
- Consumer price index, Feb.
- Core CPI, Feb.
- Monthly U.S. federal budget, Feb.
Thursday, March 6
- Initial jobless claims, week of March 8
- Producer price index, Feb.
- Core PPI, Feb.
Friday, March 7
- Consumer sentiment (preliminary), March
Part 3 — How GoDaddy’s CFO Mark McCaffrey starts his day
Mark McCaffrey, CFO of GoDaddy, is the subject of the newest edition of The 6 a.m. CFO series. McCaffrey talks about which dashboard he checks first, how he’s a “pretzel guy”, his favorite quote from Theodore Roosevelt and the origins of his New York Yankees’ fandom.
“I was born in the South Bronx of New York City, and I am a loyal Yankees fan,” he writes. “My parents’ first date was to a Yankees/Red Sox game in Yankee Stadium.”
This story will publish on March 13.
