Artisan Partners urged Seven & i Holdings to address conflicts of interest in its leadership and engage with Alimentation Couche-Tard's (ACT) takeover offer, according to a Sunday company statement.

Artisan, which holds a stake in the Japanese firm, criticized Stephen Dacus for leading the special committee while being part of the nomination process that named him CEO. It argued Dacus should have stepped down from both roles.

Artisan slammed the board for rejecting ACT's $14.86 per share offer, noting Seven & i's stock has since fallen to $14.18, below the bid and far from ACT's latest $18.19 offer.

It plans to vote against Dacus and other nomination committee members at the next annual general meeting, citing poor governance and failed deals.

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