The Japanese owner of 7-Eleven is considering going private by buying back its own shares in a bid to avoid a takeover attempt by Canadian rival Alimentation Couche-Tard, according to a report Wednesday.

Seven & i Holdings is eyeing the move as a countermeasure to Couche-Tard’s seven trillion yen ($45 billion) takeover proposal, the Nikkei business daily said, citing sources close to the company.

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