7-Eleven owner rejects initial takeover bid from Canadian rival

Japanese 7-Eleven owner Seven & i Holdings rejected a $39 billion takeover bid from Canadian retail giant Alimentation Couche-Tard, stating it undervalues the company. The proposed deal would have been the largest foreign takeover of a Japanese firm, combining 7-Eleven with Circle K across Asia, North America, and Europe. Seven & i cited regulatory concerns and inadequate valuation. The company’s shares fell 1.9% in Tokyo following the announcement.READ FULL