March 7 (Reuters) - Canada's Alimentation Couche-Tard ( ANCTF )
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 ( SVNDF ).
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 ( SVNDF ).
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 ( SVNDF ) 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 ( SVNDF ) 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.