Shares in the owner of convenience store giant 7-Eleven jumped on Wednesday after it received a new takeover offer from Canadian rival Alimentation Couche-Tard.
Japan’s Seven & i Holdings confirmed the new approach but did not reveal any new details.
The announcement came after Bloomberg News reported that the new offer valued the firm at more than $47bn (£36bn) – around 20% higher than previously.
In September, Seven & i rejected a $38bn approach from Couche-Tard, saying it grossly undervalued the firm and that any potential takeover would face major regulatory hurdles.
Seven & i shares ended the day 4.7% higher in Tokyo after initially jumping by 9.5%.
The new offer was reportedly submitted to Seven & i on 19 September and no discussions between the two sides have taken place since.
Seven & i said it “will continue to act in the best interest of its shareholders and other stakeholders.”
After the previous offer was rejected, Seven & i…
