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7-Eleven targeted by Circle K owner for huge convenience store tie-up
CNN ^ | August 19, 2024 | Hanna Ziady

Posted on 08/20/2024 5:10:27 AM PDT by Red Badger

The Canadian owner of Circle K convenience stores has made a bid to buy 7-Eleven in what would be the biggest foreign takeover of a Japanese company on record and the largest cross-border acquisition this year.

In a statement Monday, Seven & I Holdings, the operator of 7-Eleven, confirmed it had received an offer from Canada’s Alimentation Couche-Tard to acquire all of its outstanding shares.

Seven & I said it had formed a “special committee” to evaluate the proposal and that no decision had yet been made.

“The special committee intends to conduct a prompt, careful, and comprehensive review of the proposal, the (Seven & I’s) stand-alone plans, and other alternatives for enhancing corporate value, after which a response will be made to (Couche-Tard),” it added.

Couche-Tard confirmed what it called a “friendly” proposal to acquire Seven & I, but said “there can be no certainty” that a deal will be struck. “The company is focused on reaching a mutually agreeable transaction,” it added in a statement. It did not disclose financial details.

Shares of Seven & I closed almost 23% higher in Tokyo Monday, pushing the company’s market value above $38 billion. That suggests a deal value in excess of any other foreign-led takeover in Japan since Dealogic started collecting data in 1995. It would also be the largest cross-border takeover globally in 2024, according to Dealogic.

(Excerpt) Read more at cnn.com ...


TOPICS: Business/Economy; History; Society; Travel
KEYWORDS: 7eleven; circlek; conveniencestores
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From WIKI:

7-Eleven operates, franchises and licenses 84,500 stores in 19 countries and territories as of January 2024.[citation needed] While operating under its namesake brand globally, within the United States it operates as 7-Eleven nationally, as Speedway nationally but mostly in the Midwest and East Coast, and as Stripes Convenience Stores within the West South Central United States. Both Speedway and Stripes operate alongside 7-Eleven's namesake stores in several markets. 7-Eleven also operates A-Plus locations with the name licensed from owner and fellow Dallas–Fort Worth metroplex-based Energy Transfer Partners, though most of these stores have since been rebranded as standard 7-Eleven stores.

1 posted on 08/20/2024 5:10:27 AM PDT by Red Badger
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To: Red Badger

Strange things are afoot down at the CircleK


2 posted on 08/20/2024 5:13:15 AM PDT by Sirius Lee (Trump/Vance 2024 or GFY)
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To: Sirius Lee

ICWYDT


3 posted on 08/20/2024 5:14:57 AM PDT by HombreSecreto (The life of a repo man is always intense)
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To: Sirius Lee

4 posted on 08/20/2024 5:25:04 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

I was hoping......


5 posted on 08/20/2024 5:35:56 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Red Badger

Bold move (/s), considering the threatened government action RE ‘price gouging’ at markets...and such markets have the WORST prices, arguably for the ‘convenience’.


6 posted on 08/20/2024 5:46:39 AM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: Red Badger

7 posted on 08/20/2024 5:50:38 AM PDT by Pappy Smear
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To: Red Badger

I still have an undated Circle K coupon for a free counter drink from the 1970s that I need to use.


8 posted on 08/20/2024 5:50:39 AM PDT by ansel12 ((NATO warrior under Reagan, and RA under Nixon, bemoaning the pro-Russians from Vietnam to Ukraine.))
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To: Red Badger

My unscientific survey finds that Circle Ks look more modern, cleaner and are better stocked than 7/11s. Many 7/11s need to be refurbished. When given a choice, I go to a Parkers.


9 posted on 08/20/2024 5:56:12 AM PDT by DeplorablePaul
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To: Red Badger

Circle K brought all the Holiday Station stores here in the midwest.


10 posted on 08/20/2024 5:57:04 AM PDT by riverrunner
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To: riverrunner

They bought out 7-11 in Florida back in the early 80’s................


11 posted on 08/20/2024 6:02:16 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: All

OH no, please leave the Japanese 7-11 as is and update the US 7-11 to be like the ones in Japan and Taiwan.

You can actually get a good meal in those east asian 7-11s


12 posted on 08/20/2024 6:23:15 AM PDT by VAFreedom (Wuhan Pneumonia-Made by CCP, Copyright Xi Jingping)
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To: Red Badger

Who knew 7-11s were Japanese owned?


13 posted on 08/20/2024 6:26:43 AM PDT by 9YearLurker
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To: Red Badger

The 7-11’s in Japan are incredible.

That’s the word for them - incredible. They are clean, spotless, well-lit and safe and open all hours of the day and night.

And they have fresh food - not just processed junk but fresh food. And tasty


14 posted on 08/20/2024 6:29:09 AM PDT by Cronos (I identify as an ambulance, my pronounces are wee/woo)
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To: Red Badger


15 posted on 08/20/2024 6:32:58 AM PDT by Cronos (I identify as an ambulance, my pronounces are wee/woo)
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To: Sirius Lee

Our Circle K has changed. All signs gone and it is still open.


16 posted on 08/20/2024 6:39:53 AM PDT by KYGrandma (The sun shines bright on my old KY home.)
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To: Red Badger

Siete/once bump.


17 posted on 08/20/2024 6:41:49 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Sirius Lee

They just reached an agreement to buy the Pennsylvania/Ohio regional GetGo stores as well.


18 posted on 08/20/2024 6:57:58 AM PDT by mak5
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To: Red Badger

is Circle K trying to keep up with Casey’s recent expansion?


19 posted on 08/20/2024 7:24:44 AM PDT by thinden (buckle up ....)
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To: 9YearLurker

In 2005, Seven-Eleven Japan made a tender offer and 7-Eleven, Inc. became its wholly owned subsidiary


20 posted on 08/20/2024 7:26:05 AM PDT by Cronos (I identify as an ambulance, my pronounces are wee/woo)
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