06:13 AM EDT, 06/30/2025 (MT Newswires) -- Canadian convenience-store chain Alimentation Couche-Tard's ( ANCTF ) year-long pursuit of 7-Eleven's Japanese parent appears to be heading toward resolution, but most signs point to a dead end, analysts say, The Wall Street Journal reported over the weekend.

It noted Couche-Tard's bid for Seven & i Holdings has progressed behind the scenes. In his latest comments on the deal Thursday, Couche-Tard Chief Executive Alex Miller said he believes the deal can clear regulatory hurdles.

But, according to the report, some analysts are skeptical that the deal has legs, given the

overhang of Japan's national security review, persistent antitrust concerns and tepid interest from Seven & i.

TD Cowen analyst Michael Van Aelst pegs the odds of a deal between the two at one-in-three. Meanwhile, Stifel's Martin Landry doesn't think that any transaction will come to fruition and said that investors have grown restless. "Investors have symptoms of 'deal fatigue,'" he said.

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