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Couche-Tard Withdraws $47 Billion Takeover Bid for Seven & i

The Canadian retailer ended its year-long pursuit after accusing the Japanese company of stonewalling and triggered a more than 9% drop in Seven & i’s shares.

A Couche-Tard sign is seen in Montreal, Thursday, Sept. 5, 2024. THE CANADIAN PRESS/Christinne Muschi
HARRISVILLE, RI – OCTOBER 14: “Annabelle” doll in the house’s living room at the “Conjuring” house in Harrisville, RI on Oct. 14, 2020. The house, a 3,100 square foot farmhouse and eight-acre property made famous by the movie series that began in 2013, is open for overnight stays. The owners are Jennifer and Cory Heinzen, paranormal investigators. (Photo by Barry Chin/The Boston Globe via Getty Images)
A screen displays logos of Couche-Tard and Seven & i Holdings on the day of a press conference, in Tokyo, Japan, March 13, 2025.  REUTERS/Kim Kyung-Hoon/File Photo
A man walks past the logo of 7-Eleven displayed at their convenience store in Tokyo, Japan March 6, 2025.

Overview

  • Couche-Tard cited a persistent lack of constructive engagement by Seven & i’s leadership and founding Ito family as justification for pulling its offer.
  • The $47 billion proposal aimed to merge Circle K and 7-Eleven into a roughly 20,000-store global convenience network.
  • Seven & i’s stock tumbled over 9% when trading resumed on Thursday, marking a three-month low.
  • Both companies had signed a non-disclosure agreement and outlined a store-divestiture plan to satisfy U.S. antitrust regulators.
  • Couche-Tard said it will now redirect resources toward other growth opportunities after discontinuing its bid.