THE BATTLE for management of Seven & i, the Japanese proprietor of 7-Eleven, has taken quite a few stunning turns since Alimentation-Couche Tard (ACT), a Canadian retailer, supplied to accumulate the corporate in August. Seven & i has been on the lookout for methods to wriggle out of the takeover ever since. First got here a rival proposal for a administration buyout orchestrated by the corporate’s founding Ito household, which collapsed owing to difficulties securing funding. Then earlier this month the corporate appointed its first overseas chief govt, Stephen Dacus, an American. Mr Dacus has outlined a sweeping restructuring plan together with an preliminary public providing of its American subsidiary subsequent yr, the sale of York Holdings, its grocery store chain, and a hefty share buyback.
