Shares of Seven & i plummeted by up to 12% on Tuesday after reports surfaced that the owner of 7-Eleven is set to turn down a $47 billion bid from Canada’s Alimentation Couche-Tard, despite affirming it is reviewing the offer.
The stock closed 6.88% lower at 2,035 yen on March 4, 2025, after hitting a six-month low earlier in the day.
The Yomiuri newspaper disclosed on Tuesday that Seven & i intends to rebuff the acquisition proposal from Couche-Tard, the parent company of Circle-K, and opt instead to bolster its own corporate value.
The company’s spokesperson stated in a press release that it is dedicated to evaluating various avenues to enhance shareholder value, including the bid from Couche-Tard, emphasizing ongoing discussions with the latter’s special committee.
Last week, CP All Pcl., an operator of 7-Eleven in Thailand and Japan’s Itochu Corporation separately announced that they will not participate in the investment of Seven & i.
