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Alimentation Couche-Tard (ACT), the Canadian convenience store giant, is making another attempt to acquire 7-Eleven, despite resistance from its Japanese parent company, Seven & i.
ACT executives, led by Chairman Alain Bouchard, reaffirmed in Tokyo on Thursday that they are seeking a mutually agreed deal, but expressed frustration over the lack of progress.
🔹 Seven & i previously rejected ACT’s $40 billion offer in 2024.
🔹 ACT has now reportedly raised its bid to $47 billion.
🔹 A merger would create a global convenience store giant, combining 7-Eleven, Circle K, and other franchises.
🔹 This would be the largest-ever foreign takeover of a Japanese firm.
🔹 Seven & i argues that ACT undervalued its business and warned of potential US regulatory challenges.
🔹 Both companies have discussed selling some US stores to address antitrust concerns, but ACT says broader deal discussions haven’t progressed.
🔹 ACT CEO Alex Miller insists there is a clear path to regulatory approval, claiming 7-Eleven and ACT networks in the US are “highly complementary.”
🔹 Seven & i operates 85,000 stores worldwide, with a strong presence in Japan, where 7-Eleven stores serve as essential hubs during disasters.
🔹 Addressing concerns over store closures and layoffs, Miller assured, “We are going to invest in Japan. We have no interest and no plans to close stores or fire employees.”
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