7-Eleven and Couche-Tard Explore Store Sell-Offs to Address Antitrust Concerns
Seven & i Holdings and Alimentation Couche-Tard collaborate on potential divestitures as activist investors push for further engagement on $47 billion takeover offer.
- Seven & i Holdings, owner of 7-Eleven, and Canada's Alimentation Couche-Tard are working together to identify store divestitures to address regulatory hurdles for a potential merger.
- The collaboration follows Seven & i's rejection of Couche-Tard's $47 billion buyout offer, citing undervaluation and antitrust concerns.
- Activist investor Artisan Partners opposes the appointment of new CEO Stephen Dacus and urges Seven & i to reconsider Couche-Tard's proposal to maximize shareholder value.
- Seven & i recently announced a $13.5 billion share buyback, the sale of its superstore business, and plans to list its U.S. operations to boost shareholder returns.
- Artisan Partners has raised concerns about governance issues, questioning the impartiality of Dacus in his dual roles on the special and nomination committees.
