MONTREAL -- Alain Bouchard, executive chairman of Alimentation Couche-Tard, says a hostile takeover of Japan's Seven & i Holdings is "not in the plan" as the Canadian retailer seeks to acquire the Japanese owner of the 7-Eleven convenience store chain.
Seven & i disclosed last week that it had received a proposal to go private through a management buyout plan from its founding family members and its asset management company, which owns around an 8% stake. The share price has soared since then, closing at 2,556 yen ($16.55) on Thursday in Tokyo, 15% higher than before the move.
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