LAVAL – Alimentation Couche-Tard Inc. says it has signed a non-disclosure agreement with Seven & i Holdings Co. Ltd. amid its pursuit to acquire the Japanese parent company of 7-Eleven.
The Quebec-based company, which operates Circle K stores, says the non-disclosure agreement is meant to “progress transaction discussions, facilitate due diligence, and collaborate on plans to engage with regulators.”
It cautions that it cannot assure discussions between the two companies will result in a transaction.
Last fall, Seven & i said it received a revised non-binding proposal from Couche-Tard that media reports suggested was valued at US$47 billion, about 22 per cent higher than an offer it made in August.
But Seven & i said in March that Couche-Tard was understating the antitrust risk related to its takeover offer and that it would not enter into a transaction without a clear path to closing, despite Couche-Tard insisting it has a successful track record of working with U.S. and other regulators to secure transaction approvals.
Couche-Tard president and CEO Alex Miller says in a statement that he appreciates Seven & i “engaging in substantive discussions regarding our proposal and providing access to diligence,” adding he looks forward to working collaboratively “in the interests of all stakeholders.”
This report by The Canadian Press was first published May 1, 2025.
Companies in this story: (TSX:ATD)
