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Couche-Tard executives to visit Tokyo to speak on $47 billion Seven & i bid
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Couche-Tard executives to visit Tokyo to speak on $47 billion Seven & i bid
Mar 6, 2025 11:55 PM

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.

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