7-Eleven Rejects Takeover Bid

A special board committee of 7-Eleven rejected a one billion dollar buyout offer from Japan’s Seven & I Holdings Co. Ltd. The buyout would have come to $32.50 a share. A spokesperson for 7-Eleven said that the company decided that the buyout was not in the best interests of the company’s shareholders. The spokesperson also said that talks are currently in the works to increase the amount of the takeover bid. The news of the failed takeover bid had little to no effect on the shares of 7-Eleven.