TOKYO, March 19 (Reuters) - Japan's Seven & i ( SVNDF ) and
Alimentation Couche-Tard ( ANCTF ) have signed a non-disclosure
agreement over the stores they may need to offload to meet U.S.
antitrust conditions in the event the Canadian retailer buys the
Japanese company, a Seven & i ( SVNDF ) spokesperson said on Wednesday.
The two retailers have also signed NDAs with potential buyers of
the stores. Seven & i ( SVNDF ) and Couche-Tard announced they were
working together on sounding out buyers last week.
The NDAs were signed in early March and only cover stores that
are potential divestiture candidates, the spokesperson said.
Couche-Tard submitted a $47 billion buyout offer for Seven & i ( SVNDF )
last year, but the operator of the 7-Eleven convenience store
chain has resisted signing an NDA and offering due diligence on
its entire business, citing antitrust hurdles in the U.S.
Couche-Tard has said signing a full NDA would allow it to make
an enhanced offer. However Seven & i ( SVNDF ) has said that they must
first find a credible buyer for 2,000 or more stores in the
U.S., otherwise there would be an unacceptable risk should the
deal be blocked.