Couche-Tard reportedly proposes $7.5 billion to $8 billion for Cumberland Farms

Reuters and Bloomberg, both citing The Times, report that Alimentation Couche-Tard proposed a $7.5 billion to $8 billion offer for Cumberland Farms. Bloomberg separately reports, citing a person familiar with the matter, that Couche-Tard hired Royal Bank of Canada for advice. Reuters says the reported offer is below Cumberland Farms' $9 billion target for a planned US IPO; The Times reported that the company remained committed to a listing.