7-Eleven Spurns Japanese Offer

New York City, 7-Eleven, the world’s largest convenience store chain, rejected an “inadequate” tender offer from its parent company Seven-Eleven Japan. The Japanese bid of $32.50 per share was deemed too low, and consequently not in the best interests of shareholders. 7-Eleven added that its advisors are in conversation about an increased offer, though a higher bid is not assured.