The Globe and Mail reports in its Wednesday edition that Seven & i Holdings executives faced shareholders for the first time Tuesday since Couche-Tard launched an audacious takeover bid for the Japanese owner of the global 7-Eleven chain. The Globe's James Griffiths and Nicolas Van Praet write that for almost a year now, Seven & i has been trying to stave off Couche-Tard's offer -- now at 7.4-trillion yen ($52-billion (U.S.)) -- which would be the largest foreign buyout of a Japanese company in that country's history. This reticence has not only caused frustration in Canada, but also for some Seven & i investors, who have long complained about the share price of the world's biggest convenience store chain. Despite these grumblings, Seven & i management secured shareholder backing for all their proposals at its annual meeting Tuesday. These include appointing a new executive group, spinning off several subsidiaries and holding an initial public offering for 7-Eleven's U.S. arm by next year. "7-Eleven has enormous global potential," said Seven & i chief executive officer Stephen Dacus. "We aim to realize this potential with your co-operation." Mr. Dacus, an American, was appointed CEO in March.