Canadian convenience store giant Couche-Tard has pulled the plug on its massive $46 billion offer to buy Japan’s Seven & i, the parent company of 7-Eleven. The deal fell apart after resistance from Seven & i’s board, who weren’t keen on handing over control of one of Japan’s retail crown jewels.

Editor’s Note: This isn’t just another failed merger—it’s a big setback for global retail expansion. Couche-Tard was aiming for a game-changing foothold in Asia, while Seven & i’s reluctance shows how fiercely some companies guard their independence, even when the price tag is sky-high. For now, 7-Eleven stays Japanese, and Couche-Tard has to look elsewhere for growth.

Seven & i Holdings, the parent company of 7-Eleven, is facing doubts about its plan to spin off its North American stores into a public company. This comes after Alimentation Couche-Tard, the company behind Circle K, walked away from a massive $46 billion takeover bid. Investors are now questioning whether the IPO will go as smoothly as hoped, especially since Couche-Tard’s retreat suggests there might be underlying issues or disagreements about the business’s value.

Editor’s Note: When a big player like Couche-Tard backs out of a deal this large, it sends ripples through the market. Seven & i’s backup plan—an IPO—now looks shakier, raising concerns about the health of the convenience store giant’s North American operations. For anyone watching retail or investing in 7-Eleven’s parent company, this could signal turbulence ahead.

Canada’s Couche-Tard, the company behind the Circle K convenience stores, has walked away from its massive $46 billion bid to buy Seven & i, the Japanese owner of 7-Eleven. The deal fell apart because Couche-Tard says there wasn’t enough "constructive engagement" from the other side—basically, they couldn’t get Seven & i to play ball.

Editor’s Note: This isn’t just another failed deal—it’s a big one that would’ve reshaped the global convenience store market. Couche-Tard was clearly serious, given the eye-watering price tag, but Seven & i’s reluctance suggests either cold feet or a belief they’re worth even more. For now, 7-Eleven stays Japanese-owned, and Couche-Tard will have to look elsewhere if it wants to keep expanding its empire. Investors and industry watchers will be keeping a close eye on what both companies do next.

Canadian convenience store giant Couche-Tard has officially pulled the plug on its ambitious $47 billion offer to buy 7-Eleven, one of the world’s biggest convenience chains. The deal, which would have been one of the largest retail acquisitions ever, fell apart after months of negotiations—likely due to regulatory hurdles or disagreements over terms.

Editor’s Note: This isn’t just a "what could have been" story for retail nerds—it’s a big deal because a merger of this scale would have reshaped the global convenience market. Couche-Tard (which owns Circle K) and 7-Eleven are already giants, and combining them would have created a near-unstoppable force in gas stations and corner stores. Now, both companies will have to figure out their next moves: Will Couche-Tard look for another target, or will 7-Eleven’s parent company in Japan explore other options? Either way, the convenience store wars aren’t over.

Alimentation Couche-Tard, the Canadian convenience store giant, has pulled out of its bid to acquire Japan's Seven & i Holdings (the parent company of 7-Eleven). The company cited a lack of meaningful engagement from Seven & i's leadership as the reason for walking away. Essentially, Couche-Tard felt like it was being ignored during negotiations, so it decided to cut its losses rather than chase a deal that wasn’t going anywhere.

Editor’s Note: This is a big deal because Couche-Tard had been eyeing a major expansion into Asia, and Seven & i would have been a massive get. The breakdown suggests either resistance from Seven & i’s board or a fundamental mismatch in expectations. For investors and industry watchers, it’s a sign that even deep-pocketed buyers can hit roadblocks when big egos and corporate cultures clash. Plus, it leaves Couche-Tard back at square one in its hunt for global growth.

Canadian convenience store giant Couche-Tard just walked away from a massive $46 billion deal to buy Seven & i, the company behind 7-Eleven. After nearly a year of trying to make it happen, Couche-Tard says the Japanese parent company wasn’t really interested in playing ball—basically, they felt ghosted at the negotiating table.

Editor’s Note: This isn’t just some minor business hiccup—it’s a huge deal that fell apart in a high-stakes global retail showdown. Couche-Tard wanted to create a convenience store empire, but Seven & i’s reluctance suggests they’re either holding out for something better or just not interested in selling. Either way, it’s a big miss for Couche-Tard’s expansion plans and a sign that even massive deals can collapse when one side won’t engage. For shoppers, it means no immediate changes to your late-night 7-Eleven runs—but behind the scenes, the retail world just got a little more dramatic.