Overview

• The decision ends a nearly year-long friendly takeover attempt to merge Circle K and 7-Eleven into a global convenience retail leader.
• Couche-Tard blamed a lack of “sincere or constructive engagement” from Seven & i’s management and founding Ito family despite a signed NDA and limited due diligence.
• Shares of Seven & i plunged more than nine percent on the withdrawal and trading was briefly halted in Tokyo, hitting a three-month low.
• Seven & i defended its good-faith cooperation and said it remains committed to a standalone value creation plan that includes asset divestitures and a ¥2 trillion share buyback.
• Analysts say the failed bid highlights enduring U.S. antitrust scrutiny and Japan’s cautious corporate governance stance toward foreign takeovers.