Couche-Tard restarts share buybacks after ending Seven & i takeover bid
Laval, Que.-based Couche-Tard says the Toronto Stock Exchange had approved its program to buy back up to 10 per cent of outstanding shares that, based on its current price, represents about $5.8 billion in shares.
The company says the potential repurchasing of about 77.1 million shares is an appropriate use of its cash and an efficient way to create long-term shareholder value.
Couche-Tard had been keeping funds on-hand as it tried for more than a year to land a friendly takeover of Japan-based Seven & i Holdings Co. Ltd. in a deal that could have been worth more than $60 billion.
The company said last Wednesday it had withdrawn its proposal, citing a lack of constructive engagement from Seven & i.
Seven & i said it had engaged in good-faith discussions, but had also expressed concerns about antitrust hurdles and the broad shifts in the global economy that would challenge the prospects of any deal.
Monday Mornings
The latest local business news and a lookahead to the coming week.
This report by The Canadian Press was first published July 21, 2025.
Companies in this story: (TSX:ATD)
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