Shares of 7-Eleven owner Seven & i surged nearly 11% following a report that the company’s founding family plans to raise over $50 billion to take the company private. The funds will facilitate a tender offer for Seven & i shares, with the buyout targeted for completion by March 2025. If successful, this would mark the largest buyout of a Japanese company to date. Previous offers to acquire Seven & i were rejected, with the company citing gross undervaluation.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares of 7-Eleven owner 7&i surged nearly 11% following a report that the company's
00:07founding family plans to raise over $50 billion to keep the company private.
00:12The funds will facilitate a tender offer for 7&i shares with the buyout targeted for completion
00:17by March 2025. If successful, this will mark the largest buyout of a Japanese company to date.
00:24Previous offers to acquire 7&i were rejected, with the company citing gross undervaluation.
00:28For all things money, visit Benzinga.com slash GSTV.