7-Eleven Owner's Shares Spike On Report Of New Buyout Offer

While 7-Eleven began life in the United States, it's been wholly owned by Japan's Seven & i since 2005 (Credit: AFP)

Shares in the Japanese owner of 7-Eleven surged Wednesday following reports that Canada's Alimentation Couche-Tard (ACT) had hiked its takeover offer by almost 20 percent.

Japan's biggest retailer Seven & i last month rejected ACT's initial offer, saying the $40 billion proposal undervalued its business and could face regulatory hurdles.