- What Québec-based Couche-Tard has made a nonbinding offer to acquire Seven & i, owner of convenience store chain 7-Eleven
- Why Seven & i offers an extensive network of stores in key Asian markets, among other regions
- What next Seven & i has formed a special committee to examine the offer
Alimentation Couche-Tard has made a non-binding offer to acquire all outstanding shares of Tokyo-based Seven & i Holdings, owner of the 7-Eleven convenience store chain.
Seven & i said its board has formed a special committee to consider the offer. News of the offer drove trading in the stock market, sending the company’s value up 23% to roughly $52bn on Aug. 19.
According to news agency Nikkei, the deal would be one of the largest takeovers of a Japanese firm by one from outside Japan. The publication reported that Couche-Tard also floated a possible deal with Seven & i Holdings in 2020.
Couche-Tard, based in Laval, Qué., operates more than 16,700 stores in 31 countries and territories, including the U.S., Canada, the Baltics, Scandinavia, Ireland and Hong Kong. Its brands include Couche-Tard, Circle K and Ingo.
Seven & i has about 85,000 stores in 20 countries and regions, including Japan, South Korea, China and the U.S.
