Canadian convenience store giant Alimentation Couche-Tard has made a preliminary takeover bid for Seven & i Holdings, the Japanese company that operates 7-Eleven. If successful, this deal would create one of the world's largest retail groups. The specifics of the bid, including the amount offered, have not been disclosed, but Seven & i has established a committee of independent directors to review the offer. This potential acquisition, with Seven & i's market value exceeding $38 billion, could become the largest foreign-led acquisition of a Japanese company. The bid comes at a time when Japan has been implementing reforms to pressure companies to increase the value of shareholders' investments. Analysts are waiting for further details of the deal to determine its chances of success. Shares in Seven & i surged more than 22 percent in Japan in response to news of the bid.