- The Japanese operator of 7-Eleven has received a takeover approach from Canadian retailer Alimentation Couche-Tard, which controls the Circle K brand.
- This approach follows over a year of on-off talks and is the largest-ever foreign-led takeover attempt targeting a Japanese company.
- Seven & i’s shares surged 23% on Monday, raising its market capitalization to $39 billion.
- Seven & i has set up a special committee to examine Couche-Tard’s proposal, which seeks to acquire all outstanding shares.
- The move could attract other bidders, including private equity groups, and follows recent changes in Japan’s M&A guidelines encouraging serious consideration of bona fide offers.
Source: [Financial Times](https://www.ft.com/content/75ed3ae8-3ab7-4c51-bbd2-463cd37dc177)
