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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 logo is seen in this illustration taken, February 11, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
Image
People shop at a 7-Eleven convenience store in New York, Tuesday, March 19, 2024. (AP Photo/Ted Shaffrey, File)
The Japanese owner of 7-Eleven said it had agreed to jointly explore store sell-offs with Alimentation Couche-Tard to address antitrust concerns ahead of a potential merger

Overview

  • 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.