TOKYO :Shares of Seven & i Holdings surged on Wednesday after Bloomberg News reported Canada's Alimentation Couche-Tard had raised its takeover offer price by more than a fifth, valuing the Japanese retail giant at $47 billion.The new proposal at $18.19 per share was more than 20 per cent higher than Couche-T

Alimentation Couche-Tard has reportedly offered to pay over $47bn for the Japanese-owned retail giant.

Shares in the Japanese owner of 7-Eleven surged Wednesday following reports that Canada's Alimentation Couche-Tard (ACT) had hiked its takeover offer by almost 20 percent. But Bloomberg News and Japan's Nikkei business daily reported Wednesday that ACT, which owns the Circle K brand, had upgraded its offer to $18.19 per share, or a total of around seven trillion yen ($47.2 billion).

Shares in the Japanese owner of 7-Eleven surged Wednesday following reports that Canada's Alimentation Couche-Tard (ACT) had hiked its takeover offer by almost 20 percent. But Bloomberg News and Japan's Nikkei business daily reported Wednesday that ACT, which owns the Circle K brand, had upgraded its offer to $18.19 per share, or a total of around seven trillion yen ($47.2 billion).

:Shares of Seven & i Holdings surged more than 10 per cent on Wednesday after Bloomberg News reported Alimentation Couche-Tard (ACT) raised its takeover proposal price by more than a fifth, valuing the Japanese retailer at $47.1 billion.The new bid, at $18.19 per share, was more than 20 per cent higher than A