Negotiations for a prospective merger of the world's two largest convenience store chains have made some progress, Alimentation Couche-Tard said Thursday in a news release.
Couche-Tard said it has signed a non-disclosure agreement with Seven & i Holdings to advance discussions of a possible merger.
The agreement facilitates due diligence and helps the companies collaborate on plans to work with regulators, but "there can be no assurance that these discussions will result in a transaction," the release said.
"We appreciate the special committee of Seven & i engaging in substantive discussions regarding our proposal and providing access to diligence. We look forward to working collaboratively with Seven & i in the interests of all stakeholders," Alex Miller, Couche-Tard's president and chief executive officer, said in the announcement.
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--Reporting by Donna Harris, dharris@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com
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May 01, 2025 10:04 ET (14:04 GMT)
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