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4w ago

Couche-Tard Gains Access to Seven & i Financial Data in $52 Billion Takeover Bid

The signed NDA, including a standstill clause, enables due diligence while both firms address regulatory hurdles and potential divestitures.

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A man walks past the logo of 7-Eleven displayed at their convenience store in Tokyo, March 6, 2025.
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A Couche-Tard sign is seen in Montreal, Thursday, Sept. 5, 2024. Alimentation Couche-Tard Inc. says it has signed a non-disclosure agreement with Seven & i Holdings Co. Ltd. amid its pursuit to acquire the Japanese parent company of 7-Eleven. THE CANADIAN PRESS/Christinne Muschi

Overview

  • Alimentation Couche-Tard has signed a non-disclosure agreement (NDA) with Seven & i, allowing access to confidential financial data to advance its $52 billion acquisition bid.
  • The NDA includes a standstill clause, preventing hostile takeover attempts while discussions progress.
  • Seven & i continues its dual-track strategy, preparing for a potential sale or independent operation through management restructuring and asset divestitures.
  • Both companies are working on plans to divest approximately 2,000 overlapping U.S. stores to address antitrust concerns and secure regulatory approval.
  • Couche-Tard executives expressed optimism about constructive engagement, while Seven & i remains cautious over regulatory risks and deal closure certainty.