Alimentation Couche-Tard (OTCPK:ANCTF) raised its acquisition offer for Seven & i (OTCPK:SVNDY), the parent company of 7-Eleven, to over $47 billion, according to a Nikkei report that cites people with knowledge of the deal.

Seven & i Holdings reported a 35% drop in first-half net profit, a worse-than-expected result that comes as the convenience-store giant is faced with a revised takeover bid from Canada’s Alimentation Couche-Tard.

Canadian convenience store giant Alimentation Couche-Tard Inc. has made a new takeover offer to Seven & i Holdings Co. worth 7 trilli

(Reuters) -Shares of Seven & i Holdings surged more than 10% on Wednesday after Bloomberg News reported Alimentation Couche-Tard (ACT) raised its takeover proposal price by more than a fifth, valuing the Japanese retailer at $47.

Canadian convenience store operator Alimentation Couche-Tard Inc. still has room to increase its $47 billion bid for Seven & i Holdings Co., but any further boost is likely to be small, analysts say.

Canada’s Couche-Tard has increased its offer for Japan’s Seven & i Holdings, signalling continued interest in acquiring the convenience store giant, Bloomberg has reported. The Canadian retailer has raised its bid to Y7trn ($47.

Canada’s Alimentation Couche-Tard ($TSE:ATD) has raised its takeover offer for the 7-Eleven convenience store chain to $47 billion. The offer for