The Japanese company that owns 7-Eleven has received a buyout offer from the Canadian owner of Circle-K that, if it goes through, could corner about a fifth of the global convenience store market.
Seven & I Holdings Monday that it received a 鈥渘on-binding and preliminary鈥� proposal from Alimentation Couche-Tard Inc. (ACT).
Under the proposal, ACT would buy all outstanding shares of Seven & i Holdings, which has formed a special committee of independent directors to review the offer.
鈥淣o determination has been made at this time to either accept or reject the proposal from ACT,鈥� Seven & i Holdings said in its statement.
The deal could be valued in the tens of billions of dollars.
7-Eleven, with U.S. headquarters in Irving, Texas, runs the most convenience stores in the U.S. and around the world, with a 14.5% market share as of last year. There are at least 85,000 7-Elevens.
ACT operates 4.6% of the convenience store market, GlobalData managing director Neil Saunders told the AP.
Couche-Tard acquired Circle K, which was also first established in Texas, in 2003. It now operates nearly 17,000 stores across North America and Europe.
Bill Zeeble is 四虎影院鈥檚 education reporter. Got a tip? Email Bill at bzeeble@kera.org. You can follow him on X .
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