Couche-Tard executives to visit Tokyo to speak on $47 billion Seven & i bid

Published:2025-03-08 03:26:50
Couche-Tard executives to visit Tokyo to speak on $47 billion Seven & i bid

(Reuters) -Canada’s Alimentation Couche-Tard said on Friday its top executives will visit Tokyo to speak with media about its $47 billion bid to buy 7-Eleven convenience store operator Seven & i Holdings.

Founder Alain Bouchard, CEO Alex Miller and CFO Filipe Da Silva will hold a media briefing from 0200 GMT on March 13.

Couche-Tard, which operates Circle-K convenience stores, said earlier it is in exploratory talks with third parties about a potential sale of U.S. stores to help it gain regulatory approval should it reach a deal to take over Seven & i.

The Canadian company said it has identified a portfolio of U.S. stores and is in talks to "identify possible acquirers".

"We believe there is a clear path to obtaining regulatory approvals of a transaction with 7&i and have made a robust proposal to 7&i about our commitment to doing so," a Couche-Tard spokesperson said.

Seven & i has opposed the takeover bid and said U.S. antitrust law would be a barrier to any deal.

The companies are the top two players in the U.S. convenience store market, with about 20,000 locations between them.

Seven & i on Thursday appointed its first foreign CEO, Stephen Dacus, handing him the task of overhauling its business to fend off the bid.

Dacus said he spoke with Couche-Tard on Thursday and that talks would continue though significant regulatory hurdles stood in the way of any merger, particularly in the United States.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.3382: A Bull or Bear Market Play?

Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year..In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies.So if 3382 is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

Unlock ProPicks now