The post Couche-Tard Drops $46 Billion Bid To Buy 7-Eleven Owner Seven & I appeared on BitcoinEthereumNews.com.

Couche-Tard’s withdrawal of its takeover bid for Seven & i marks the end of what could have been the biggest foreign acquisition of a Japanese company. Kiyoshi Ota/Bloomberg Alimentation Couche-Tard, the Canadian operator of Circle K convenience stores, has dropped its $46 billion bid to acquire Seven & i Holdings, citing the Japanese owner of the 7-Eleven chain’s “lack of constructive engagement” throughout a yearlong negotiation. In a 1,500-word letter to Seven & i’s board on Wednesday, Couche-Tard said the Japanese retailer was uncooperative in meetings and did not provide enough information to move the deal forward. “There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal, contrary to comments made publicly by 7&i representatives,” Couche-Tard said in the letter. “The quantity and substance of the permitted due diligence, including at two tightly constrained management meetings, have been negligible,” it added. “Rather, you have engaged in a calculated campaign of obfuscation and delay, to the great detriment of 7&i and its shareholders.” In response, Seven & i said on Thursday that while it’s disappointed by Couche-Tard’s decision and disagreed with the Canadian rival’s “numerous mischaracterizations,” it wasn’t surprised. Seven & i added that it had “consistently engaged in good faith and constructively” with Couche-Tard to explore the possibility of reaching a deal that would benefit its shareholders. Shares of Seven & i fell more than 9% on Thursday to ¥2,007.5, which is 23% below Couche-Tard’s offering price of ¥2,600. Couche-Tard’s withdrawal brings to an end of what could have been the biggest-ever foreign takeover of a Japanese company to create one of the world’s largest retail groups by store count. It could dampen foreign investors’ optimism about Japan’s shift away from protectionist practices, despite the country’s ongoing corporate governance reforms aimed at…

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Filed under: News - @ July 17, 2025 10:27 am