7-Eleven confirms huge buyout proposal from Circle K owner
The Canadian owner of Circle K wants to buy rival Seven & i, which, if the deal is agreed, would be the largest foreign takeover of a Japanese listed company.
Konoly
The Canadian owner of Circle K wants to buy rival Seven & i, which, if the deal is agreed, would be the largest foreign takeover of a Japanese listed company.
August 20, 2024
The Japanese parent company of the global convenience store chain, 7-Eleven, confirmed on August 19 that it had received an acquisition proposal from Alimentation Couche-Tard ACT, the owner of Circle K.
The confirmation was made through Seven i Holdings’ website, revealing that the proposal is to acquire all outstanding shares of the company, which could lead to a merger of a firm with over 85,000 7-Eleven convenience stores worldwide, as well as the largest ever foreign takeover of a Japanese company, if agreed. The first store opened in Japan in 1974.
Canada-headquartered ACT also confirmed that it had submitted a “friendly, non-binding” proposal, and that it...
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