TOKYO — Japan's Seven & i Holdings must act fast to negotiate a takeover bid from Canada's Alimentation Couche-Tard that has 'historic implications,' said a fund manager at shareholder Artisan Partners Asset Management.
TOKYO — Japan 's Seven & i Holdings must act fast to negotiate a takeover bid from Canada's Alimentation Couche-Tard that has 'historic implications,' said a fund manager at shareholder Artisan Partners Asset Management.Couche-Tard, owner of Circle-K convenience stores, last week said it had approached Seven & i about a possible acquisition.It did not disclose a potential deal value, but a deal would likely be the biggest-ever overseas buyout of a Japan ese firm.
Seven & i, which operates the global 7-Eleven convenience store chain, said it does not comment on individual shareholders.'The most important part of this deal, for both the reputation of the board and for corporate Japan, is that shareholders receive a fair, independently managed process,' Herrick, associate portfolio manager of Artisan's International Value team, said in an emailed response to questions from Reuters.
Owner Takeover 'Historic' For Corporate Japan
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