In a statement, Seven & i said it had “received a confidential, non-binding and preliminary proposal by ACT to acquire all [of its] outstanding shares”.
“[The] Special Committee intends to conduct a prompt, careful and comprehensive review of the proposal,” it added.
Seven & i has 85,000 outlets worldwide in 20 countries and territories and has a large footprint in Asia.
Quebec-based ACT is listed on the Toronto Stock Exchange and runs around 17,000 shops more than 30 countries across North America Europe and Asia under the brands Circle K and Couche-Tard.
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