The massive convenience store chain 7-Eleven saw a spike in share price on Wednesday following the offer of a fresh acquisition bid from competitor Alimentation Couche-Tard in Canada.
Japan's Seven & i Holdings confirmed the new offer but did not offer any additional specifics.
One month ago in September Seven Eleven already rejected a $38bn approach from Couche-Tard.
This time the offer exceeded $47bn which is around 20% higher than the previous!
No foreign corporation has ever acquired a Japanese enterprise the size of Seven Eleven.
It was likely always the other way around...
The Japanese government released new mergers and acquisition guidelines last year, urging businesses to give serious takeover proposals careful thought before rejecting them.
7-Eleven is the largest convenience store chain in the world, operating 85,000 locations in 20 different nations and territories.
Should the offer be accepted, Couche-Tard's presence in the US and Canada would increase to about 20,000 locations, resulting in the establishment of a 100,000-unit worldwide convenience store network.
Information derived and inspired from: BBC
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