7-Eleven owner’s shares spike on report of new buyout offer …C0NTINUE READING HERE >>>
While 7-Eleven began life in the United States, it’s been wholly owned by Japan’s Seven & i since 2005.
Photo: Richard A. Brooks / AFP/File
Source: AFP
Shares in the Japanese owner of 7-Eleven surged Wednesday following reports that Canada’s Alimentation Couche-Tard (ACT) had hiked its takeover offer by almost 20 percent.
Japan’s biggest retailer Seven & i last month rejected ACT’s initial offer, saying the $40 billion proposal undervalued its business and could face regulatory hurdles.
If realised, it would be the biggest-ever foreign buyout of a Japanese firm.
But Bloomberg News and…
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