Canada's Couche-Tard tries to sell Japanese public on its $47 billion bid for 7-Eleven

Record ID: 1982961

  • Title: Canada's Couche-Tard tries to sell Japanese public on its $47 billion bid for 7-Eleven
  • Date: 13th March 2025
  • Summary: TOKYO, JAPAN (MARCH 13, 2025) (REUTERS) ALIMENTATION COUCHE-TARD (ACT) EXECUTIVES, CHAIRMAN ALAIN BOUCHARD (LEFT), CEO ALEX MILLER AND CFO FILIPE DA SILVA (RIGHT) WALKING ON STAGE (SOUNDBITE) (English) ALIMENTATION COUCHE-TARD CHAIRMAN, ALAIN BOUCHARD, SAYING: "For over six months now, seven today, we have been attempting to engage in fulsome and friendly discussions with
  • Embargoed:
  • Keywords: 7&i holdings 7-11 Alimentation Couche-Tard Japan Tokyo convenience store newser
  • Location: TOKYO, JAPAN
  • City: TOKYO, JAPAN
  • Country: Japan
  • Topics: Asia / Pacific,Company News Markets,Economic Events
  • Reuters ID: LVA001842913032025RP1
  • Aspect Ratio: 16:9
  • Story Text: Alimentation Couche-Tard took its case for its $47 billion takeover of Seven & i straight to the Japanese public on Thursday (March 13), marking a change in strategy by the low-key Canadian firm in response to what it described as months of stonewalling by the 7-Eleven owner.
    Couche-Tard, which owns the Circle-K convenience store chain, has been pursuing Seven & i since August, when it unveiled an initial bid that it has since increased to acquire the Japanese retailer.
    Speaking to reporters, Couche-Tard founder and chairman, Alain Bouchard, said his company was "disappointed" in the level of engagement it had had with Seven & i over the deal, which would require the approval of the target's board and shareholders as well as regulators.
    The resulting regulatory scrutiny could lengthen the timeline on any potential deal, Couche-Tard CEO Alex Miller said, adding that he anticipated "significant interest" in the company's proposed package of divestitures intended to ease regulatory concerns.
    The companies are the top two players in the U.S. convenience store market, with about 20,000 locations between them.
    (Production: Tom Bateman)
  • Copyright Holder: REUTERS
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