Convenience store company Seven-Eleven Japan has announced that it will amend its tender offer for all shares of its US affiliate 7-Eleven not already owned by Seven-Eleven Japan and its subsidiaries by increasing the offer price to US$37.50 per share.
The special committee of the board of directors of 7-Eleven will recommend that shareholders tender their shares in connection with the amended offer, the companies said.
The committee had rejected the original offer which was priced at $32.50.
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