Seven & I Holdings, the Japanese convenience store chain operator valued at about $31 billion, has received a buyout proposal from Canadian convenience-store operator Alimentation Couche-Tard in what would be the largest-ever foreign takeover of a Japanese company if realized.
The "confidential, preliminary” offer will be examined by an independent committee and the board of directors has made no determination at this time whether to accept or reject it, the retailer said in a statement Monday, following a report on the bid by the Nikkei newspaper.
Neither offered details on the value of Couche-Tard's offer.