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Couche-Tard drops its $46bn pursuit of 7-Eleven owner

Financial TimesWednesday, July 16, 2025 at 11:47:47 PM
NegativeFinancial MarketsMergers & Acquisitions
Couche-Tard drops its $46bn pursuit of 7-Eleven owner
Couche-Tard, the Canadian company behind the Circle K convenience stores, has decided to walk away from its massive $46 billion bid to buy Seven & i, the Japanese owner of 7-Eleven. The deal fell apart because Couche-Tard felt Seven & i wasn’t really engaging with them in a meaningful way—basically, talks went nowhere.
Editor’s Note: This is a big deal because it would have been one of the largest retail acquisitions ever, reshaping the global convenience store market. Now that it’s off the table, Couche-Tard might look elsewhere to expand, while Seven & i stays independent—for now. It also hints at how tricky cross-border deals can be, especially when one side isn’t fully on board.
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