Japanese 7-Eleven owner says rejected initial takeover offer from Canadian rival

Japanese 7-Eleven owner says rejected initial takeover offer from Canadian rival …C0NTINUE READING HERE >>>

The purchase of Seven & i Holdings would be the biggest ever foreign takeover of a Japanese firm.
Photo: Richard A. Brooks / AFP
Source: AFP

The Japanese owner of 7-Eleven said Friday it had rejected a takeover bid from retail giant Alimentation Couche-Tard, saying the proposal “grossly undervalues” the company.

As the world’s biggest convenience store chain, 7-Eleven operates more than 85,000 outlets globally.

A letter from the board of Seven & i Holdings to its Canadian rival said it…

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