Stock Market News
ValueAct says Seven & i did not answer questions in clear way
2023.04.07 02:50
© Reuters. FILE PHOTO: A man uses a mobile phone outside a 7-Eleven convenience store in Tokyo, Japan December 6, 2017. REUTERS/Toru Hanai
TOKYO (Reuters) – ValueAct Capital said on Friday that Seven & i Holdings had failed to provide clear answers to the questions the activist fund sent to the Japanese retail giant.
“Seven & i did not answer any of the nine questions posed by ValueAct in a clear and specific way,” ValueAct told Reuters, a day after Seven & i independent directors issued a statement to continue reviewing strategies.
“We look forward to providing shareholders the opportunity to vote for new directors who will put the company on a path towards a better future,” said ValueAct, which owns a 4.4% stake in Seven & i.
