ValueAct’s New Japan Target is Seven & I With $1.6 Billion Stake

ValueAct Capital disclosed the acquisition of a 4.3% stake worth about 174.5 billion yen ($1.6 billion) in Japan’s Seven & i Holdings Co., which operates the 7-Eleven convenience store chain globally.

The activist investor’s holding of 38.8 million shares in Seven & i makes ValueAct the convenience store operator’s fourth-largest shareholder, according to data compiled by Bloomberg. Shares of Seven & i rose as much as 7.4% in early morning trading in Tokyo Thursday. The stock had climbed 25% this year before the announcement, following an 8.6% decline last year.

“We are excited that Seven & i Holdings has ...