Couche-Tard scraps $46 billion bid for Japan's Seven & i

"We are very disappointed in what appears to be a lack of willingness to engage from Seven & i," said Manoj Jain, co-founder and co-CIO of Hong Kong-based Maso Capital, a Seven & i shareholder.

"We believe there is significant value to be realised in a combination and have expressed this view to the management and the board."

17th July 2025 | Reuters

The art of (closing) the deal is a minefield for merger arb funds

“We anticipate increased levels of global M&A, including Australia, now that the tariff overhang appears to be dissipating – albeit with heightened geopolitical and competition risks associated with deals,” Manoj Jain, the co-chief investment officer of Hong Kong-based hedge fund Maso Capital, says.

22nd June 2025 | Australian Financial Review

Shares of Seven & i fall after report to reject Couche-Tard bid

“We are disappointed and surprised with the board’s lack of engagement,” said Manoj Jain, co-founder and Co-CIO of Hong Kong-based Maso Capital, which owns Seven & i shares. “Given the price offered, it’s clear that the board should engage.”

4th March 2025 | Reuters

Buyout Firms Chase Slice of Australia’s $2.5 Trillion Pensions

“The Australian market is unique globally given the structure of mandated employee contributions, which means by definition the industry has a natural tailwind which should mean year-over-year growth,” said Manoj Jain, co-founder and co-chief investment officer of hedge fund Maso Capital.

7th January 2025 | Bloomberg

Ramsay investors push for shake-up of ‘failed’ overseas expansion

Manoj Jain, chief investment officer at Hong Kong-based Maso Capital, said the disconnect between Ramsay's market value and the value of its assets left it prone to an opportunistic takeover and needed to be addressed imminently. Wesfarmers is among potential suitors to take a close look.

25th November 2024 | Financial Review

Couche-Tard asks 7-Eleven owner for talks after $38.5 bln offer rejected

“Based on the response from Couche-Tard it would appear there is scope for a higher offer and this will be required to get the Seven & I board to engage further,” said Manoj Jain, founder and co-chief investment officer at Maso Capital, a shareholder in Seven & i

9th September 2024 | Reuters

Why retail giant 7-Eleven is on a rival’s shopping list

Along with the weakness of the yen, efforts by the Japanese government to promote mergers and acquisitions appear to be working”, said Manoj Jain from Hong Kong-based hedge fund Maso Capital.

21st August 2024 | BBC

Canada’s Couche-Tard makes preliminary takeover bid for Japan’s Seven & i

This is another example of the attractiveness of the Japanese market for offshore buyers,” said Manoj Jain, co-founder and Co-CIO of Hong Kong-based Maso Capital.

19th August 2024 | Reuters

Bidders having it both ways with ‘best and final’ threats

Manoj Jain, partner and co-chief investment officer at Maso Capital, shares his expertise on the art of ‘best and final’ statements in M&A deals, offering invaluable guidance for investors navigating these complexities. His insights are featured in The Australian Financial Review.

1st August 2024 | Australian Financial Review