Seven & i pushes back against Couche-Tard's reasons for deal talks ending
Couche-Tard said last week that it was ending a yearlong effort to buy Seven & i Holdings Co. Ltd., saying there had been no sincere or constructive engagement from the Japan-based company over a potential deal.
Seven & i's special board committee said in a letter issued Tuesday that Couche-Tard made 'highly misleading' claims as it ended its efforts, and that Seven & i consistently engaged in good faith.
It says that from the start, Couche-Tard didn't take competition concerns seriously, and didn't present a credible plan as to how those concerns would be addressed.
Given the scale of the two convenience store chains, Seven & i noted that regulators would likely require they make a 'very significant divestiture' before approving a deal, but Couche-Tard was not able to provide a plan on who could be the buyer or how such a deal would work.
Seven & i also pushed back against the characterization that its governance was not up to the task, and suggested that Couche-Tard perhaps did not properly understand the Japanese market.
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This report by The Canadian Press was first published July 23, 2025.
Companies in this story: (TSX:ATD)
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