Marketing

Circle K owner hikes offer to buy 7-Eleven parent company

Photo: Ricochet64 - stock.adobe.com

October 17, 2024

Alimentation Couche-Tard, parent company of Circle K, has upped its bid by 22% to buy Seven & I Holdings, the Japanese parent company of 7-Eleven.

If accepted it would be the biggest overseas acquisition of a Japanese firm, according to a Reuters report.

The increased offer is $18.19 per share. The initial offer was $14.86 per share.

"The increased offer from ACT is far more compelling than the original proposal. Whilst regulatory hurdles remain, the Seven & I board should engage to see if the deal can be progressed," Manoj Jain, co-founder and co-CIO of Hong Kong-based Maso Capital, told Reuters.