Seven & i Holdings has received an acquisition offer from Junro Ito, a VP at the company and the son of its founder, and Ito-Kogyo, a private company affiliated with Ito. The Japan-based parent company of 7-Eleven rejected an initial buyout offer from Alimentation Couche-Tard (ACT) in September 2024, but the Canada-based convenience store operator apparently is still in the running.
ACT has reportedly increased its original offer of $38.5 billion to $45 billion, according to Fortune. If this deal goes through it would represent the largest-ever foreign buyout of a Japanese company, according to Fortune, which noted that the cost to go private could be even more — as high as $57.9 billion. However, Seven & i’s board has reiterated that no decisions about a buyer, or indeed whether to sell the company at all, have been made yet.
“We are committed to an objective review of all the alternatives before us as we consider proposals from Mr. Ito and Ito-Kogyo, from ACT, as well as the company’s standalone opportunities to unlock shareholder value,” said Stephen Dacus, Chair of the Special Committee of Seven & i’s board tasked with evaluating these proposals.
Advertisement
