Couche-Tard Executives Visit Tokyo to Discuss $47 Billion Bid for Seven & i

Canada's Alimentation Couche-Tard announced that its key executives will travel to Tokyo to discuss the company's $47 billion bid for the Seven & i Holdings, the parent company of 7-Eleven.

Founder Alain Bouchard, CEO Alex Miller, and CFO Filipe Da Silva are scheduled to host a media briefing on March 13 at 0200 GMT.

To facilitate regulatory approval in the potential deal with Seven & i, Couche-Tard revealed it is in preliminary discussions with external parties regarding the sale of U.S. stores.

An official from Couche-Tard stated, "We are confident in the regulatory approval process and have presented a comprehensive plan to 7&i." Seven & i has expressed opposition to the acquisition bid, citing potential challenges under U.S. antitrust law.

With a collective of approximately 20,000 stores, the two companies dominate the U.S. convenience store market.

Seven & i has appointed its first foreign CEO, Stephen Dacus, to navigate the bid, despite acknowledging substantial regulatory obstacles, especially in the U.S.