(Bloomberg) -- Investors are buying Seven & i Holdings Co. shares using borrowed funds by the most in at least a decade, amid growing hopes of a speedy takeover of the Japanese retail giant by its founding family.
The total outstanding margin purchases last week more than tripled from the previous week to 27.53 million shares, according to Tokyo Stock Exchange data released on Tuesday. That’s the highest since at least 2014, according to data compiled by Bloomberg.
Shares surged on Nov. 20 after a report the founding Ito family is looking to complete a deal to take the company private by the end of its fiscal year. There is risk of investors selling the shares if the management buyout doesn’t progress, according to Makoto Sengoku, an analyst at Tokai Tokyo Intelligence Laboratory Co.
Seven & i shares have risen almost 50% since a takeover proposal by Alimentation Couche-Tard Inc. became public in August, fueling a takeover battle.
©2024 Bloomberg L.P.