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Operator of 7-Eleven in Japan receives takeover offer from Alimentation Couche-Tard

MONTREAL — The company behind the 7-Eleven convenience store chain in Japan says it has received a takeover offer from Alimentation Couche-Tard Inc. Terms of the proposal by the Canadian convenience store company were not disclosed.
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A Couche Tard convenience store is shown in Montreal on October 5, 2012. THE CANADIAN PRESS/Graham Hughes

MONTREAL — The company behind the 7-Eleven convenience store chain in Japan says it has received a takeover offer from Alimentation Couche-Tard Inc.

Terms of the proposal by the Canadian convenience store company were not disclosed.

In a statement, Seven & i Holdings Co. Ltd. said it has received a confidential, non-binding and preliminary offer from Couche-Tard to buy all of the outstanding shares of the company.

The board of directors of the Japanese retailer has formed a special committee to review the proposal.

Seven & i said the committee will conduct a careful and comprehensive review of the proposal, the company’s stand-alone plans and other alternatives.

Couche-Tard said it is focused on reaching what it called a "mutually agreeable transaction that benefits both companies' customers, employees, franchisees and shareholders."

However, the Quebec-based company cautioned that there could be no certainty at this stage that any agreement or transaction will be reached.

Couche-Tard has operations in 31 countries and territories and more than 16,700 stores.

This report by The Canadian Press was first published Aug. 19, 2024.

Companies in this story: (TSX:ATD)

The Canadian Press

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