TOKYO (Reuters) – Seven & i plans to reject a takeover bid from Canada’s Alimentation Couche-Tard as the retailer seeks to enhance its corporate value on its own, the Yomiuri newspaper reported.
The retailing giant is finalising a plan for CEO Ryuichi Isaka to step down with his replacement almost certain to be director Stephen Dacus, Reuters has reported.
Dacus heads a special committee to evaluate the takeover bid from Couche-Tard and a take-private deal from Seven & i’s founding family that recently collapsed.
(Reporting by Sam Nussey; Editing by Sandra Maler)