financetom
Business
financetom
/
Business
/
Potential buyers of Couche-Tard, Seven & i US stores have until March-end, Bloomberg News reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Potential buyers of Couche-Tard, Seven & i US stores have until March-end, Bloomberg News reports
Mar 19, 2025 10:18 PM

March 19 (Reuters) - Potential buyers of Japan's Seven &

i ( SVNDF ) and Canada's Alimentation Couche-Tard's ( ANCTF )

U.S. stores have until the end of March to express

their interest and address antitrust concerns, Bloomberg News

reported on Wednesday, citing people familiar with the matter.

Some potential buyers are engaged in the process, and

have signed non-disclosure agreements, Bloomberg News reported.

ACT, which operates the Circle-K convenience stores in

Canada and the United States, has been trying to acquire the

beleaguered Seven & i ( SVNDF ) since August, with the Canadian company

ready to bolster its most recent buyout offer of $47 billion.

However, the deal has been wrapped up in anti-trust

concerns, with Seven & i ( SVNDF ) opposing the takeover bid saying U.S.

anti-trust law would be a barrier to any deal.

The companies are the top two players in the U.S.

convenience store market, with about 20,000 locations between

them.

It was not immediately clear how many stores apiece the two

companies were divesting.

ACT did not immediately respond to Reuters' requests for

comment. Seven & i ( SVNDF ) was not immediately available for comment.

Any initial expression of interest will need to protect

competition in the U.S. market, the Bloomberg report said,

citing people familiar with the matter.

Earlier this month, Seven & i ( SVNDF ), which has been the target of

investor criticism over its capital allocation for years, said

that talks had kicked off with ACT over a store sale plan that

would set the stage for the takeover bid.

Separately, ACT said it was in exploratory talks with third

parties about the potential sale of its U.S. stores to help it

gain regulatory approval.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Murphy Oil Shares Rise Following Q1 Beat
Murphy Oil Shares Rise Following Q1 Beat
May 2, 2024
10:14 AM EDT, 05/02/2024 (MT Newswires) -- Murphy Oil's ( MUR ) shares were up 1.3% in recent Thursday trading after the company reported stronger-than-expected Q1 adjusted net income and revenue. The company reported Q1 adjusted net income from continuing operations of $0.85 per diluted share, down from $1.24 a year earlier. Analysts polled by Capital IQ expected $0.82. Revenue...
Exclusive-TOMS Capital Investment Management has taken stake in Kellanova, sources say
Exclusive-TOMS Capital Investment Management has taken stake in Kellanova, sources say
May 2, 2024
NEW YORK (Reuters) -Investment firm TOMS Capital Investment Management has taken a significant position in U.S. multinational food manufacturing company Kellanova ( K ) and is engaging with the company, two sources familiar with the matter said on Thursday. The size of TOMS Capital Investment Management's stake could not be learned and it is unclear what the investment firm and...
Vontier Shares Down After Q1 Sales Fall, Full-Year Sales Guidance Cut
Vontier Shares Down After Q1 Sales Fall, Full-Year Sales Guidance Cut
May 2, 2024
10:13 AM EDT, 05/02/2024 (MT Newswires) -- Vontier ( VNT ) shares fell nearly 4% in recent Thursday trading after the company reported lower sales in Q1 and cut its full-year sales guidance. The company reported Q1 adjusted earnings earlier Thursday of $0.74 per diluted share, up from $0.68 a year earlier. Analysts surveyed by Capital IQ expected $0.70. Sales...
Arcelor Mittal Stock Takes Off After Projecting 3%-4% Steel Demand In FY24
Arcelor Mittal Stock Takes Off After Projecting 3%-4% Steel Demand In FY24
May 2, 2024
Arcelor Mittal NY (NYSE:MT) shares are trading higher on Thursday after reporting first-quarter results. The company reported first-quarter sales of $16.282 billion, beating the analyst consensus of $16.238 billion.  The company’s crude steel production remained primarily flat year over year at 14.4 metric tonnes, while steel shipments decreased to 13.5 metric tonnes from 14.5 metric tonnes. The company forecasts world apparent steel consumption to grow by 3% to +4%...
Copyright 2023-2025 - www.financetom.com All Rights Reserved