The Japanese operator of 7-Eleven, the world’s biggest convenience store chain, has received a takeover approach from the Canadian retailer Alimentation Couche-Tard, which controls the Circle K brand.
Couche-Tard’s approach to Seven & i Holdings follows more than a year of on-off talks between the two retailers and is the biggest foreign-led takeover attempt to target a Japanese company.
Seven & i’s shares rose 22 per cent on Monday, pushing the market capitalisation of the company to $38bn.
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