Seven & i shares soar 7% after news of ValueAct stake build-

Seven & i shares soar 7% after news of ValueAct stake build-up


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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.

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