Couche-Tard Makes Takeover Bid for Japans Seven & i

Japanese retailer Seven & i, owner of 7-Eleven, announced it has received a takeover bid from Canadian company Alimentation Couche-Tard. While no decisions have been made, the news caused Seven & i`s stock to jump significantly. If successful, this would be the biggest purchase of a Japanese company by a foreign one. This follows a previous instance where the two companies competed to acquire a U.S. gas station chain. Seven & i has faced calls from investors to streamline its business and focus on its convenience stores.