The owner of 7-Eleven convenience stores and other retail chains has received a buyout offer from Canada's Alimentation Couche-Tard.

Japan's Seven & i Holdings on Monday said that a special committee made up of outside directors has been formed to review the bid, but released no other details.

Shares of Seven & i Holdings jumped 23% in Tokyo, the largest single-day jump for the stock in the company's history.

"This potential takeover bid is a huge deal. 7-Eleven is the biggest operator in the U.S. convenience retail store space, with a 14.5% share of the market in 2023," said Neil Saunders, managing director of GlobalData. "By comparison, Alimentation Couche-Tard's banners had a 4.6% market share. So, combining the two would produce an entity that controls almost a fifth of the market."

The company has been trying to streamline operations and last year sold the department store chain Sogo & Seibu Co. to a U.S. investment fund.

Seven & i Holdings said that its board, as well as the special committee, have not made any decision yet as to accepting or rejecting the offer, to enter into talks with Couche-Tard or to pursue alternative options.

The company will make its decision public, it said Monday.

Couche-Tard runs a number of convenience store chains under brand names like Couche-Tard, Circle K, and On the Run. It has more than 14,000 stores across Canada, Ireland, Mexico Russia, Poland, Norway, Sweden, Denmark and the United States.