TOKYO, Oct 7, 2024 (BSS/AFP) - Shares in the Japanese owner of 7-Elevenjumped Monday after media reports said it was seeking to strengthen its handin a takeover battle, including selling a stake in its banking unit. But ACT, which owns the rival Circle K brand, has vowed to pursue the buyout,which would be the biggest ever foreign takeover of a Japanese firm. Shares in Seven & i ended the morning 2.55 percent higher at 2,250.5 yen inTokyo, having surged more than three percent at one point. That followed reports in Japanese media last week that the group wasaccelerating a plan to sell its supermarket operations, including thenational "Ito-Yokado" chain. The Japanese finance ministry last month designated Seven & i a "core"industry, a move that could make the takeover more complicated.

Source: Bangladesh Sangbad Sangstha October 07, 2024 05:40 UTC