7-Eleven: Canadian Retail Giant Makes £29.2bn Takeover Bid
Alimentation Couche-Tard (ACT), a Canadian convenience store operator, has proposed a $38 billion (£29.2 billion) bid to acquire the Japanese-owned 7-Eleven chain. This potential deal, which could be a record foreign takeover in Canada, would significantly expand ACT's presence in North America, increasing its locations to over 20,000.
The offer, valued at 5.6 trillion Japanese yen, represents a 20% premium over 7-Eleven's pre-bid stock price. ACT has submitted a friendly, non-binding proposal, while Seven & i Holdings, the current owner, has established a special committee to review the offer.
If the acquisition proceeds, it may face scrutiny from competition regulators, given the substantial number of stores both companies operate in the region. The bid follows recent volatility in the Japanese stock market and comes amid calls for Seven & i to streamline its operations.