The Japanese owner of 7-Eleven announced on Thursday a raft of new measures to fend off a takeover by a Canadian rival, including a huge share buyback and an IPO of its US unit.

The announcements are the latest twist in a saga that began last year, when Seven & i rebuffed a takeover offer worth nearly $40 billion from Canada's Alimentation Couche-Tard (ACT).

"We're convinced that now is the time to take our initiatives to the next level, and our leadership will further pursue the improvement of shareholder value and implement transformative policies," outgoing company president Ryuichi Isaka said in a statement.

"We have decided to conduct an initial public offering (IPO) of our SEI shares that operate the North American convenience store business, 7-Eleven, on one of the major US stock exchanges by the second half of 2026," Seven........

© International Business Times