Alimentation Couche-Tard Inc. CEO Brian Hannasch expects some shareholders of Żabka Group SA to push for a higher takeover price [1].
The potential for a bidding war or price adjustment could impact the final cost of what the company describes as its most transformational acquisition. If a significant minority of shareholders successfully demands a higher premium, it may alter the financial projections for the Canadian firm's expansion into the Polish market.
Hannasch said during a press interview in Toronto regarding the proposed $8.7 billion [1] acquisition of the Polish convenience store operator that while some investors believe the current offer undervalues the company, the deal remains on track.
"We anticipate that a minority of Żabka shareholders will seek a higher price, but we remain confident that the transaction will close on the terms we have agreed to," Hannasch said [1].
The acquisition represents a significant strategic shift for the Toronto-based company. Hannasch said the move is the largest in the history of Couche-Tard, a milestone he said demonstrates the company's commitment to delivering value for all stakeholders [2].
Despite the anticipated pressure from a small group of investors, Hannasch said the company is moving forward with the current terms. The acquisition would integrate one of Poland's most prominent retail networks into the Couche-Tard portfolio, expanding its footprint in Europe.
The CEO's comments were made on Sept. 15, 2026 [1], as the company manages the expectations of both its own investors and those of the target firm. The outcome will depend on whether the minority of dissenting shareholders can gain enough leverage to force a renegotiation of the $8.7 billion [1] price tag.
“This is the largest and most transformational acquisition in Couche‑Tard’s history”
This situation highlights the tension between corporate valuation and shareholder expectations during large-scale cross-border acquisitions. By publicly acknowledging the pressure to raise the bid while maintaining confidence in the current price, Couche-Tard is attempting to signal stability to the market while preemptively managing the narrative around potential price disputes.
