Seven & i Proposes Counter-Bid Against Couche-Tard

The Japanese owner of 7-Eleven, Seven & i Holdings, announced a counter-bid to a proposed takeover by Canadian rival Alimentation Couche-Tard (ACT), which is valued at approximately seven trillion yen ($45 billion). The counter-bid comes from Junro Ito, the son of the founding family and current vice president of Seven & i, through his company Ito-Kogyo, which holds an eight percent stake in the retailer. A special committee is currently reviewing the non-legally binding proposal, with no decision made yet regarding pursuing a transaction with Ito, ACT, or any other party. Meanwhile, reports suggest that Seven & i could consider a management buyout worth up to nine trillion yen, with discussions ongoing with Japanese banks for funding. The company's stock surged over 11% following the news, reflecting investor optimism about its future direction. The situation underscores heightened competition in the convenience store sector, as Couche-Tard seeks to expand its global presence.