FTC Tells Seven & i of Plan to Probe Couche-Tard Deal, Reuters Reports

Dow Jones
2024/09/11
 

--The Federal Trade Commission has notified Japan's Seven & i, the operator of 7-Eleven convenience stores, that it intends to investigate any potential takeover of the chain by Canada's Alimentation Couche-Tard for antitrust violations, Reuters reports, citing unnamed sources.

--Alimentation Couche-Tard, which owns Circle K stores, has offered to acquire Seven & i in a deal valued at about $38.7 billion. Seven & i rejected the Canadian company's offer last week, but said Monday that it would be open to further discussions if Alimentation Couche-Tard improved its bid.

--The FTC sent notice of its interest in the matter to Seven & i after Alimentation Couche-Tard's offer was made public on Aug. 19, according to Reuters' unnamed source.

--The agency didn't immediately respond to Reuters' request for comment, the report said.

 

Full story: https://www.reuters.com/markets/deals/ftc-tells-seven-i-it-intends-probe-potential-couche-tard-deal-source-says-2024-09-10/

 

(END) Dow Jones Newswires

September 10, 2024 12:10 ET (16:10 GMT)

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