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TOKYO Seven & i Holdings shares surged more than 7% to a two-year high on Thursday after news it was targeted by activist investor ValueAct Capital, which asked the Japanese owner of the 7-Eleven convenience store chain to restructure itself.
ValueAct amassed a $1.53 billion, or 4.4%, stake in Seven & i and wants it to take steps to boost its value, including a potential break-up, Reuters reported.
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“We refrain from commenting on individual shareholders’ matters. Not only in this case, but also in the future, we will continue to engage in dialog with our shareholders,” Seven & i said in an emailed statement when asked for a comment.
Seven & i shares surge 7% after news of ValueAct stake build-up
Kyoto, Japan. Photo: Alex Wolfe/Unsplash
May 13, 2021
Seven & i Holdings shares surged more than 7% to a two-year high on Thursday after news it was targeted by activist investor ValueAct Capital, which asked the Japanese owner of the 7-Eleven convenience store chain to restructure itself.
ValueAct amassed a $1.53 billion, or 4.4%, stake in Seven & i and wants it to take steps to boost its value, including a potential break-up, Reuters reported.
“We refrain from commenting on individual shareholders’ matters. Not only in this case, but also in the future, we will continue to engage in dialogue with our shareholders,” Seven & i said in an emailed statement when asked for a comment.
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TOKYO Shares of Seven & i Holdings surged to a two-year high on Thursday after Reuters reported activist investor ValueAct Capital took a stake in the…
Shares of Seven & i Holdings surged to a two-year high on Thursday after Reuters reported activist investor ValueAct Capital took a stake in the Japanese owner of the 7-Eleven chain, signalling a potential shake-up at the retail giant.