Japanese 7-Eleven owner rejects ‘opportunistically timed’ takeover offer from Canadian rival

TOKYO, Sept 6 — The Japanese owner of 7-Eleven said today it had rejected a takeover bid from retail giant Alimentation Couche-Tard, saying the proposal “grossly undervalues”...

The offer for Seven&i Holdings would create an international convenience store behemoth combining 7-Eleven , Couche Tard, Circle K and other brands across Asia, North America and Europe. — AFP picTOKYO, Sept 6 — The Japanese owner of 7-Eleven said today it had rejected a takeover bid from retail giant Alimentation Couche-Tard , saying the proposal “grossly undervalues” the company.

Seven & i has a market value of around ¥5.6 trillion . 7-Eleven stores are a beloved institution in Japan, selling everything from ready-made meals to umbrellas.ACT operates more than 16,700 outlets in 31 countries and territories.

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