Canadian convenience retailer Alimentation Couche-Tard has launched its tender offer for all shares in Polish convenience chain Żabka at PLN32 each, valuing the business at about PLN32.6 billion. The offer runs until 25 September. Couche-Tard expects around USD250 million in annual cost benefits within three years and could delist Żabka if ownership reaches at least 95%. Żabka operates about 13,000 outlets across Poland and Romania. (Reuters)