By Denny Jacob

--Activist investor ValueAct Capital Partners LP urged Seven & I Holdings Co. shareholders to back a spinoff of the company's 7-Eleven convenience store chain, Reuters reported, citing a letter it reviewed.

--ValueAct, which owns a 4.4% stake in Seven & I, argued that a tax-free spinoff of 7-Eleven could be completed through a listing on the Tokyo Stock Exchange in about a year, the report said.

--ValueAct didn't immediately respond to a request for comment from Dow Jones Newswires.

Full story at https://www.reuters.com/markets/deals/valueact-calls-seven-i-spin-off-7-eleven-retail-chain-2023-01-19/

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 19, 2023 14:16 ET (19:16 GMT)

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