According to 7-Eleven execs, the company's board of directors will recommend that shareholders tender their shares in connection with the amended offer. As of Thursday, approximately 203,245 shares had been tendered and not withdrawn in connection with the offer. Shareholders of 7-Eleven who have already tendered their shares will receive the increased offer price.

Last month, 7-Eleven's board of directors recommended to shareholders the rejection of a $1.2-billion, $32.50-per-share takeover bid made in early September by Seven-Eleven Japan, the convenience-store giant's majority owner, in efforts to take it private.

7-Eleven operates about 28,500 stores worldwide, with 5,256 of them in the US. Total September 2005 sales were $1.24 million, representing an increase of 20.7% compared to September 2004 sales of $1 million. The company said the sales increase for September was primarily due to a sharp rise in retail gasoline prices, as well as a solid increase in merchandise sales. US same-store merchandise sales for September 2005 also increased 4%, on top of a 6.5% increase in September 2004.