Seven & i Shares Rise on Couche-Tard Bid

Shares of Seven & i Holdings, the owner of 7-Eleven, surged by over 10% following reports that Alimentation Couche-Tard (ACT) raised its takeover bid by nearly 20%, valuing the company at approximately $47.1 billion. This new offer, set at $18.19 per share, comes after Seven & i rejected an initial $38 billion bid, citing significant undervaluation and potential regulatory challenges. Despite the increase in share price, Seven & i has not commented on the reported bid, and no negotiations have occurred since the offer was submitted on September 19. If finalized, this acquisition would represent the largest foreign buyout of a Japanese firm and create a vast global convenience store chain. Industry experts express concerns about potential antitrust issues arising from the merger, which could enhance market power and impact smaller competitors. Seven & i is expected to announce quarterly earnings soon, attracting investor attention regarding future corporate strategies.