Shares of Seven & i Holdings surged on Wednesday after Bloomberg News reported Canada's Alimentation Couche-Tard had raised its takeover offer price by more than a fifth, valuing the Japanese retail giant at $47 billion.
The new proposal at $18.19 per share was more than 20% higher than Couche-Tard's previous rejected offer for the 7-Eleven owner and was sent last month, Bloomberg said, citing people with knowledge of the matter.
If it were to go ahead, the deal would be the largest ever overseas buyout of a Japanese firm.
Seven & I, which had not publicly disclosed any fresh approach from Couche-Tard, said it was not in a position to comment as it was determining the facts of the report. Circle-K owner Couche-Tard was not immediately available for comment.
Full article Shares of Seven & i jump on report Couche-Tard raised offer to $47 billion | Reuters
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