Record-Setting Bid: Couche-Tard's Revised Offer for Seven & i

Canada's Alimentation Couche-Tard has raised its takeover bid for Japan's Seven & i Holdings to $47 billion, making it potentially the largest overseas buyout of a Japanese firm. The revised offer, significantly higher than the previous bid, has sparked mixed reactions from investors and analysts.

In a potential landmark deal, Canada's Alimentation Couche-Tard has increased its takeover bid for Japan's Seven & i Holdings from $38.5 billion to approximately $47 billion, according to sources familiar with the negotiations. If successful, this would mark the largest overseas buyout of a Japanese company.

Details of the new proposal, first reported by Bloomberg, reveal an offer of $18.19 per share, a 22% increase from Couche-Tard's earlier bid. Despite this increase, which could make the 7-Eleven owner more appealing, the proposal remains private and non-binding, while negotiations continue under confidentiality.

Investors are now closely watching how Seven & i, which also oversees supermarkets and financial services, plans to enhance shareholder value amid scrutiny from foreign investors. Analysts anticipate announcements regarding its subsidiary sales and potential rebranding to emphasize its core convenience store operations during its second-quarter earnings report.

(With inputs from agencies.)