The owner of 7-Eleven convenience stores has received a buyout offer for from Canada’s Alimentation Couche-Tard.
Associated PressFILE - People shop at a 7-Eleven convenience store in New York, Tuesday, March 19, 2024. The owner of 7-Eleven convenience stores and other retail chains has received a buyout offer from Canada’s Alimentation Couche-Tard.
Japan's Seven & i Holdings on Monday said that a special committee that made up of outside directors has been formed to review the bid, but released no other details.Shares of Seven & i jumped 23% in Tokyo, the largest single day jump for the stock in the company's history. “This potential takeover bid is a huge deal. 7-Eleven is the biggest operator in the US convenience retail store space with a 14.5% share of the market in 2023," said Neil Saunders, managing director of GlobalData."By comparison, Alimentation Couche-Tard’s banners had a 4.6% market share. So, combining the two would produce an entity that controls almost a fifth of the market.
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