08:10 AM EDT, 03/19/2025 (MT Newswires) -- 7-Eleven's owner has signed a confidentiality agreement with the Canadian owner of Circle K to consider a potential sale of some U.S. stores, moving to address antitrust risk of a possible takeover of the Japanese retail giant by Alimentation Couche-Tard ( ANCTF ) , The Wall Street Journal is reporting on Wednesday.

The scope of the nondisclosure agreement is limited to the potential sale of some stores run by the companies in the U.S. and isn't meant to discuss a possible sale of the entire Seven & i Holdings group, a spokesman for the Japanese company said Wednesday.

The 7-Eleven owner said last week that financial advisers to the company and the Circle K owner are searching for potential buyers for some stores to mitigate U.S. antitrust risk before signing a takeover agreement. The Japanese company said that it would continue its discussion with Couche-Tard while advancing its own business initiatives.

Seven & i said antitrust issues involved in a potential takeover deal would be significant, while Couche-Tard has said the company believes there is a clear path to obtaining regulatory approvals.

Couche-Tard executives said Thursday that the company would continue its friendly pursuit of Seven & i, even as they vented their frustrations over the slow progress in talks to acquire the Japanese owner of the 7-Eleven convenience-store chain.

Earlier this month, Seven & i said it would split its North American convenience stores into a separate listed company by the second half of next year. The 7-Eleven parent also named its first American chief executive, former Walmart executive Stephen Hayes Dacus.

The 7-Eleven owner in September rejected an initial US$39 billion buyout bid from Couche-Tard, saying the proposal underestimated the company's value. Couche-Tard later raised its offer to about $47 billion and in January submitted a revised, yen-denominated proposal at Seven & i's request.

Couche-Tard on Tuesday posted higher profit and revenue for its quarter ended Feb. 2. Its same-store sales, which account for store openings and closings, edged lower in the U.S., were slightly higher in Europe and increased 2.8% in Canada.

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