Japan's Seven & i Holdings said on Wednesday it had received a revised takeover bid from Canada's Alimentation Couche-Tard, with a report saying the offer had been sweetened by a fifth to value the 7-Eleven owner at $47 billion.

Seven i Holdings Sees Shares Rise Over 10% Amid Takeover Bid Shares of Japanese retail giant Seven i Holdings surged by more than 10% following a report from Bloomberg News. The report revealed that

Alimentation Couche-Tard (TSX:ATD) stock is getting severely undervalued this October as deal uncertainties jitter investors.

The Japanese owner of 7-Eleven said on Wednesday it had received a "revised" takeover offer from Canadian rival Alimentation Couche-Tard after rejecting an initial bid worth around $40 billion.

Bloomberg has learned that Alimentation Couche-Tard Inc., the Canadian owner of Circle K stores, sent Seven & i Holdings Co., the Japanese owner of 7-Eleven stores, a new potential acquisition price of ¥7 trillion ($47.