Couche-Tard’s 7-Eleven acquisition remains a possibility

The Canadian c-store giant’s proposal is still under review as Seven & i buyout bid fall.

A proposed buyout of global convenience store giant Seven & i Holdings has failed and Alimentation Couche-Tard’s bid has gained relevance amidst the recent decision.

The proposed offer was initially revealed last November by a group led by company Vice President Junro Ito and major shareholder Ito-Kogyo. However, the consortium informed Seven & i, the parent company of 7-Eleven, that it had been unable to secure the necessary financing to submit a definitive proposal.

Meanwhile, Seven & i’s special committee continues to evaluate a competing proposal from Couche-Tard, the parent company of Circle K. 

In its Thursday announcement, Seven & i stated that it is actively working with Couche-Tard “to determine if an actionable proposal can be achieved that addresses the serious U.S. antitrust challenges that any such transaction would face.”

Couche-Tard first expressed interest in acquiring Seven & i in August, though the initial bid was rejected. However, the Canadian retailer has since submitted a revised proposal, which has gained traction among some of Seven & i’s investors, who have urged the company to give it serious consideration.