TOKYO : U.S. fund Artisan Partners Asset Management ramped up pressure on Japan's Seven and i holdings, calling on the board to provide an update on a takeover bid from Canada's Alimetation Couche-Tard (ACT) by Sept. 19.In a letter dated Friday and sent to journalists, Artisan portfolio managers N.
FILE PHOTO: Japan's Seven & i’s logo is seen at its 7-Eleven convenience store in Tokyo, Japan, Aug. 19, 2024. REUTERS/Kim Kyung-Hoon/File PhotoTOKYO : U.S. fund Artisan Partners Asset Management ramped up pressure on Japan's Seven and i holdings, calling on the board to provide an update on a takeover bid from Canada's Alimetation Couche-Tard by Sept. 19.
Artisan's letter, which was highly critical of Seven & i's track record of enhancing corporate value, highlights the pressure on the company from shareholders over the potential deal, which would likely be the biggest-ever overseas buyout of a Japanese firm.
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