Japan’s Seven & i receives takeover offer from Canada’s Couche-Tard, Nikkei says By Reuters

TOKYO (Reuters) -Japanese retailer Seven & i holdings has received a takeover offer from Canada’s Alimentation Couche-Tard, the newspaper reported on Monday.

Seven & i’s shares surged by 22.7%, their daily trading limit, on the Tokyo exchange. Representatives from the company did not immediately respond to a request for comment.

Seven & i, operator of the 7-Eleven convenience store chain, has set up a committee to scrutinise the proposal, including the valuation, the Nikkei said.

If the deal goes through, this would be the largest ever buyout of a Japanese firm by an overseas company, Nikkei said.