TOKYO, Aug 31 (Reuters) - U.S. fund Artisan Partners

Asset Management ( APAM ) ramped up pressure on Japan's Seven

and i holdings ( SVNDF ), calling on the board to provide an

update on a takeover bid from Canada's Alimetation Couche-Tard

(ACT) by Sept. 19.

In a letter dated Friday and sent to journalists, Artisan

portfolio managers N. David Samra and Benjamin L. Herrick

recommended that Seven & i ( SVNDF ), operator of the 7-Eleven convenience

store chain in Japan, seriously consider ACT's offer, and to

solicit offers for the company's Japanese subsidiaries "as

quickly as possible."

"ACT is uniquely positioned to enhance (Seven & i's ( SVNDF ))

corporate value," Samra and Herrick wrote.

"Negotiating with ACT is the best tactic to preserve

positive stakeholder outcomes in Japan," they said. "It is

imperative that the board of directors negotiate with ACT

immediately to achieve the best possible outcome for

shareholders."

Artisan's letter, which was highly critical of Seven & i's ( SVNDF )

track record of enhancing corporate value, highlights the

pressure on the company from shareholders over the potential

deal, which would likely be the biggest-ever overseas buyout of

a Japanese firm.

ACT, which is the owner of Circle-K convenience stores,

last week said it had approached Seven & i ( SVNDF ) about a possible

acquisition, without disclosing a potential deal value.

Artisan has been a critic of Seven & i's ( SVNDF ) management and

structure since 2019, when the letter says it became a

shareholder. It said it is an active - not activist -

shareholder, which engages with corporate management and boards.