7-Eleven owner considers going private to avoid foreign buyout: reports [Yahoo! Finance]
SEVEN & I HLDGS UNSP/ADR (SVNDY)
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Source: Yahoo! Finance
Seven & i Holdings is eyeing the move as a countermeasure to Circle K owner Alimentation Couche-Tard's seven trillion yen ($45 billion) takeover proposal, the Nikkei business daily said. The takeover, if realised, would be the biggest ever foreign buyout of a Japanese firm. With around 85,000 outlets worldwide, 7-Eleven is the world's biggest convenience store chain. Around a quarter of those are in Japan, where the stores are a cherished one-stop shop for everything from rice balls to concert tickets. Bloomberg News also reported Wednesday that Seven & i was considering a management buyout, or MBO, worth up to nine trillion yen -- above its market cap of 5.7 trillion yen. A Seven & i spokesman told AFP there was "nothing for public release at this point". The 7-Eleven franchise began in the United States, but it has been wholly owned by Seven & i since 2005. Meanwhile, Couche-Tard, which began with one store in Canada's city of Laval in 1980, now runs nearly 17,000 con
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News
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- Seven & i shares surge on report founding Ito family plans privatization bid [Yahoo! Finance]Yahoo! Finance