Owner of 7-Eleven stores receives buyout offer from Canadian rival
Proposal to Tokyo-based Seven & i by ACT could become biggest foreign takeover of a Japanese firmThe owner of the global convenience store chain 7-Eleven has received an offer from a Canadian rival to buy the company.The Tokyo-based Seven & i revealed on Monday that it had received a bid from the Canadian convenience store multinational Alimentation Couche-Tard (ACT) to buy its stake in the company. Continue reading...
https://www.theguardian.com/business/article/2024/aug/19/owner-of-7-eleven-stores-receives-buyout-offer-from-canadian-rival
Seven & i, the owner of global convenience store chain 7-Eleven, received an acquisition bid from Canadian Alimentation Couche-Tard. With over 84,000 stores globally, including 13,000 in the US and 22,000 in Japan, the company's valuation rose to £29.6bn following the news. The potential takeover could be the largest foreign acquisition of a Japanese company and comes after Japan's softened rules on unsolicited bids. Seven & i's committee, chaired by Stephen Hayes Dacus, will promptly review the proposal before making a decision.