A rise in shareholder activism in Japan is poised to fuel a new wave of management buyouts by founding families, after the battle for 7-Eleven's parent company prompted a $58 billion (¥8.8 trillion) takeover offer from the Ito dynasty that built the retail giant.
Seven & I Holdings Vice President Junro Ito swooped in last month with an offer to take the company founded by his late father private in what would be the largest ever management buyout (MBO).
Ito's "white knight" bid appears designed to keep Seven & I away from Canada's Alimentation Couche-Tard, which announced a takeover proposal in August. The Circle K owner raised its bid for Seven & I by about 22% to $47 billion in October after its initial offer was rejected.
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