Reed Stevenson

Canada's Couche-Tard approached Seven & i with buyout proposal Convenience-store operator was already expanding outside Japan

Alimentation Couche-Tard Inc. could issue debt and tap its pension shareholders for funding in order to finance a proposed deal to buy out 7-Eleven owner Seven & i Holdings Co. , people familiar with the Canadian retailer's thinking said.

The deal would be the biggest-ever foreign takeover of a Japanese company Article content

Seven & i Holdings Co. shares fell as much as 3.8% in early morning trade in Tokyo, following news that the operator of 7-Eleven stores wants the Japanese government to change its designation to a category that would raise any potential hurdle for Alimentation Couche-Tard Inc. to move forward with its buyout proposal.

Seven & i Holdings Co. 's desire for government protection against Alimentation Couche-Tard Inc. 's buyout proposal suggests Japan may not be ready yet for big cross-border mergers. How the state reacts will tell the world whether the country is ready for change.

Seven & i Holdings Co.’s desire for government protection against Alimentation Couche-Tard Inc.’s buyout proposal suggests Japan may not be ready yet for big cross-border mergers. How the state reacts will tell the world whether the country is ready for change.

A leveraged acquisition would be feasible because of the Japanese company's strong cash flow, people familiar with the Canadian retailer’s thinking said.

7-Eleven owner signals willingness to consider sweetened offer Japan pushing for better governance, clearer guidelines

When Seven & i Holdings Co. rejected Alimentation Couche-Tard Inc.’s takeover proposal, the Japanese retailer took pains to clarify that price was the issue, not the idea of an acquisition itself.

Change is underway in corporate Japan, long considered impenetrable to takeovers