Heard on the Street: Takeover Bid Opens 7-Eleven to Change
Canadian convenience-store operator Alimentation Couche-Tard’s offers to buy 7-Eleven’s Japanese parent haven’t clinched a deal. The Japanese company said Thursday it plans to place its supermarket arm and other non-core businesses into a holding company, bringing in strategic investors before a later initial public offering. It also plans to rename itself “7-Eleven Corp.” to emphasize its focus on convenience stores.