(Reuters) -Artisan Partners, an investor based in the United States Seven & I Holdings, on Sunday, opposed the CEO plan to execute the director of the Japanese seller and invited the company to reconsider the download, according to the letter of the Committee.
Last week, the 7-Eleven trade operator appointed Stephen Dacus as executive director to conduct his recovery and respond to an offer to take over in the amount of $ 47 billion from Canadian alimony.
In the letter, the artistic partners opposed Dacus’ selection and called seven and I to deal with Couche-Pard about my purchase proposal to maximize the value of the shareholders.
Couche-Pard did not immediately respond to Reuters’ comment request, while seven and I was not immediately available for comment outside of working hours.
The special committee and Dacus rejected the Couche-Dard offer in the amount of $ 18.19 per share, which at the time was a premium of almost one-third from the current share price. However, the company’s shares closed on Friday at $ 14.18 in Tokyo, about 22% below the last offer of Couche-Dard.
An activist investor said he would vote against Dacus at the upcoming annual assembly of the company, as well as against other members of the Nomination Committee.
Artisan Partners said he would also vote against Vice -President Seven & I Junro ITO at the annual assembly, stating his inability to ensure financing for buying management of $ 58 billion last month.
The ITO family began conversations for the owner of the store to accept private in what would be the biggest purchase of management in history if it was successful after receiving the Couche-Darda offer last year.
Artisan is among the seven II foreign investors who invited the company to focus on its basic trade affairs.
(Harshit Meenaktschi reporting in Bengalur; Lisa Shumaker Mounting)
