ValueAct Capital is pushing Seven & i Holdings to explain its corporate strategy to shareholders including why it is not spinning off of its 7-Eleven convenience store chain or considering selling the whole company.
A representative for the company was not immediately available for comment and ValueAct declined further comment beyond the letter.
And it wants to answers to which strategic alternatives were considered and why the company has not pushed ahead with a tax-free spin-off of 7-Eleven, something ValueActThe spin-off could be completed through a listing on the Tokyo Stock Exchange in roughly a year, ValueAct said earlier.
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