TOKYO, Nov 13 — The Japanese owner of 7-Eleven said today its founding family had offered a counter-bid to a takeover attempt by Canadian convenience store rival Alimentation...
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With around 85,000 outlets, 7-Eleven is the world’s biggest convenience chain. If realised, Couche-Tard’s seven trillion yen takeover would be the largest foreign buyout of a Japanese firm. A special committee “has been reviewing the proposal carefully and thoroughly with its financial and legal advisors”, its statement said.
Seven & i stocks closed more than 11 per cent higher, having soared as much as 17 per cent following the news. Couche-Tard, which began with one store in Canada’s city of Laval in 1980, now runs nearly 17,000 convenience outlets worldwide.
7-Eleven Alimentation Couche-Tard Convenience Stores Corporate Takeover
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