Completely rewrite the following article in a fresh and original style. Ensure the new content conveys the same sentiment and message as the original. The rewritten article should:
- Start with a compelling introduction that hooks the reader (do not label this section).
- Maintain any lists and points as they are, using numbering and bullet points where necessary. Rewrite the explanations and discussions around these points to make them fresh and original. Ensure the lists are formatted correctly with proper numbering or bullet points.
-
Organize the content into clear, logical sections. Subheadings are not mandatory. Each section should have a subheading only if it enhances readability and comprehension.
-
End with a strong conclusion that summarizes the key points and provides a closing thought or call to action (do not label this section).
-
Ensure it is formatted properly with adequate line spacing
Make sure the article flows coherently, is engaging, and keeps the reader interested until the end. Reorganize and structure the content efficiently to enhance readability and comprehension. Use varied sentence structures and vocabulary to avoid monotony. Avoid directly copying any sentences or phrases from the original content. Here is the original content:
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Seven & i, the Japanese retail group, is planning to list its 7-Eleven store business in North America and launch a huge share buyback, as it combats a $47bn takeover attempt by Canada’s Alimentation Couche-Tard.The group has also appointed its first ever foreign chief executive and agreed to sell non-core assets to private equity firm Bain Capital for close to ¥814bn ($5.5bn), in its most radical attempt so far to prove to shareholders it should stay independent, the company said on Thursday after the Tokyo market closed. Stephen Dacus, lead independent director and head of the company’s special committee responsible for evaluating the bid from Couche-Tardwill take over from chief executive Ryuichi Isaka. His appointment is subject to approval at the company’s annual shareholder meeting on May 27.“In the past, we didn’t focus enough on shareholder returns, but now we are focused on that . . . I would hope that (shareholders) would understand that they stand to benefit a great deal from that,” said Dacus in a Financial Times interview.The initial public offering of its North American convenience store business, with 13,145 stores in the US and Canada, is expected to be launched as soon as the second half of 2026. Seven & i intends to retain majority ownership. The company said it would also carry out a large-scale buyback programme worth as much as ¥2tn by 2030 using the proceeds of the IPO and the sale to Bain of non-core assets that include supermarket, restaurant and speciality stores. It also intends to implement a “progressive dividend policy”.The group will make a renewed push to expand internationally, Dacus earlier told a news conference, emphasising direct investments where the company retained control rather than by making licensing agreements.“That will ensure we have better controls and our shareholders get a much bigger benefit from the growth of the Seven & i brand globally,” he said.Dacus is expected to continue talks with Couche-Tard while simultaneously trying to boost Seven & i’s valuation, according to people familiar with his thinking. Another independent board member will take over from him as head of the special committee.Some investors have privately questioned whether Dacus leading the negotiations with the Canadian company represents a conflict of interest as he planned to take on the chief executive role. Seven & i has consistently said that one of the big obstacles to a deal with Couche-Tard are antitrust issues in the US where the groups already occupy the top two spots.Outgoing chief Isaka said on Thursday that despite discussions, there had been “no meaningful progress on finding a solution to the US antitrust challenges, hence the proposal has no assurance that it would be in the best interest of group shareholders”.He added that Seven & i would “continue to examine and consider all strategic options, including the proposal from ACT to unlock value for our shareholders”.Dacus said he did “not think our shareholders want for us to spend two years or more in limbo just for (an antitrust deal) to be rejected in US courts”.Seven & i’s share price jumped as much as 10 per cent earlier on Thursday on reports of the expected announcements.However, the stock is down 14 per cent so far this year. It fell sharply last month following the failure of a plan by the company’s founding family to launch a buyout, piling pressure on management to demonstrate it had a plan to improve operations.Isaka was appointed head of Seven & i in 2016 and led a $21bn acquisition of Speedway, the US fuel and convenience store chain. However, he has been criticised by some investors who wanted the company to pay swifter attention to its core convenience store business and improve its capital allocation.
