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Seven & i Receives $34 Billion Buyout Offer from Couche-Tard in Largest-Ever Foreign Takeover Bid
Aug 19, 2024, 11:08 AM
Seven & i Holdings, the Japanese company that owns 7-Eleven, has received a preliminary buyout offer from Canadian convenience store giant Alimentation Couche-Tard. The offer, reportedly valued at ¥5 trillion ($34 billion), could result in the largest-ever foreign takeover of a Japanese company if it proceeds. Seven & i, valued at about $31 billion, saw its stock surge by 23% following the announcement. A committee of directors at Seven & i is currently reviewing the proposal. The potential acquisition reflects Couche-Tard's strategic move to expand its global presence, adding to its existing portfolio of approximately 17,000 stores worldwide, including the Circle K brand.
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