TOKYO, OCT 9 – Japan’s 7-Eleven owner said today that it has received a ‘new’ takeover offer from Canadian rival Alimentation Couche-Tard (ACT), after rejecting an initial offer worth about US$40 billion.
7-Eleven is the world’s largest chain of convenience stores with more than 85,000 branches worldwide, about a quarter of which are located in Japan.
Seven & i Holdings did not provide a figure for the new deal from ACT, but Bloomberg News and several other media reported that the amount was around US$47 billion.
The acquisition, if realized, would be the largest overseas purchase of a Japanese company.
“As requested by ACT, the company has maintained, and intends to continue to maintain, the confidentiality of the current discussions with ACT,” Seven & i, Japan’s largest retailer, said in a statement.
Seven & i will announce its quarterly earnings on Thursday, with the chief executive officer scheduled to present a statement to the media. – AFP
