7 days ago
Seven & i deal collapse seen sending signals to activist investors
Alimentation Couche-Tard's attempt to buy the operator of the 7-Eleven convenience store chain was widely seen as a litmus test for Japanese conglomerates' openness to M&A bids by foreign acquirers. (Source photos by AP and Kosuke Imamura)
LISA KIM, JADA NAGUMO and SHOTARO TANI
TOKYO -- Canadian retailer Alimentation Couche-Tard has called it quits after a yearlong siege to take over Japan's iconic Seven & i Holdings. Market experts see the withdrawal as an invitation for activist investors to step up their campaigns to push for more change in corporate Japan.
Recent corporate governance reforms, increased investor activism and government guidelines on fairness and transparency when receiving takeover bids have powered dealmaking to record highs in Japan.
