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.