Overview

• Shareholders approved a new board, including foreign CEO Stephen Dacus, at the annual general meeting.
• Seven & i signed a non-disclosure agreement with Couche-Tard to share financial data and will explore the sale of about 2,000 overlapping North American stores to address antitrust concerns.
• The retailer has agreed to sell its Ito-Yokado supermarket chain to Bain Capital for $5.7 billion and plans a U.S. IPO for its 7-Eleven unit by 2026.
• Couche-Tard’s $51.5 billion offer values Seven & i roughly 25 percent above its current market capitalization of around $39 billion.
• The company is pursuing a dual-track strategy of evaluating the acquisition bid while implementing internal reforms to strengthen its core convenience business.