CADJPY view!!
The Japanese owner of 7-Eleven has been approached with what would be the largest-ever takeover of a Japanese company. The deal speaks to foreign companies seeking to exploit the depressed yen.
In this case, the suitor is Canadian company Couche-Tard, the owner of Circle K convenience stores. The target is Seven & i Holdings Co and it was valued at USD$31 billion before the deal and jumped 23% today.
Indications are that Japanese management will rebuff the offer but it could go hostile in a move to take over the 85,000 retail locations worldwide.
In this case, the suitor is Canadian company Couche-Tard, the owner of Circle K convenience stores. The target is Seven & i Holdings Co and it was valued at USD$31 billion before the deal and jumped 23% today.
Indications are that Japanese management will rebuff the offer but it could go hostile in a move to take over the 85,000 retail locations worldwide.
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