MONTREAL — The Japanese owner of 7-Eleven says it's in talks with Alimentation Couche-Tard Inc. after a management buyout proposal from a member of the family that helped found the company was unable to secure financing.
Seven & i Holdings Co. Ltd. says there is no actionable proposal from Junro Ito and Ito-Kogyo to consider at this time after the group was unable to secure the financing required for a definitive proposal.
The company says it continues to assess a full range of strategic alternatives and its special committee is "engaging constructively" with Quebec-based Couche-Tard, which has made a rival offer for the company.
Couche-Tard made a revised offer for Seven & i last year after an earlier proposal was rebuffed by the Japanese firm because it was too low and did not fully address U.S. regulatory concerns.
Seven & i says it's working to determine whether a deal with Couche-Tard can be struck that addresses what it says are serious U.S. antitrust challenges.
Couche-Tard says it remains committed to reaching a mutually agreeable transaction with Seven & i and looks forward to working constructively with the company to reach a friendly agreement.
This report by The Canadian Press was first published Feb. 27, 2025.
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