Seven & i shares give up some gains after Couche-Tard bid
TOKYO - Shares of Japan's Seven & i Holdings fell by almost 6% in morning trade on Tuesday, giving up some of their gains from the previous day, when they surged on news of a takeover proposal from Canada's Alimentation Couche-Tard.
Seven & i said Couche-Tard has proposed buying all of its outstanding shares, while the Canadian company confirmed a"friendly proposal" was sent to Seven & i, adding it was focused on reaching a mutually agreeable transaction.
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