Artisan Partners opposes Japan retailer Seven & i's CEO choice

Reuters - 09/03
Artisan Partners , a U.S.-based investor in Seven & i Holdings , on Sunday opposed the Japanese retailer's CEO succession plan and urged the company to reconsider a takeover offer, according to a letter to the board.
  • Artisan Partners Asset Management Inc
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  • Seven & i Holdings Co Ltd
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  • Alimentation Couche-Tard Inc
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March 9 (Reuters) - Artisan Partners (APAM.N), opens new tab, a U.S.-based investor in Seven & i Holdings (3382.T), opens new tab, on Sunday opposed the Japanese retailer's CEO succession plan and urged the company to reconsider a takeover offer, according to a letter to the board.
Last week, the 7-Eleven convenience store operator named Stephen Dacus as CEO to lead its recovery and respond to a $47 billion takeover offer from Canada's Alimentation Couche-Tard (ATD.TO), opens new tab.
In the letter, Artisan Partners opposed Dacus's selection and urged Seven & i to engage with Couche-Tard about its buyout proposal to maximize shareholder value.
Couche-Tard did not immediately respond to a Reuters request for comment, while Seven & i wasn't immediately available for comment outside business ho...
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