Canada’s Alimentation Couche-Tard has officially proposed to buy Japan’s Seven & i, the company behind 7-Eleven, Reuters reports.
Seven & i announced earlier that it received an initial takeover offer from Couche-Tard and has set up a special committee to review it.
Following the news, Seven & i’s shares jumped about 23% in Tokyo, making the retailer worth around 5.6 trillion yen ($38 billion).
In comparison, Couche-Tard, which operates Circle-K stores, was valued at C$79.65 billion ($58.25 billion) as of Friday.
Credit : Reuters