The Globe and Mail reports in its Friday edition that Alimentation Couche-Tard has won access to Seven & i Holdings' confidential financial data after months of effort, a critical step in its bid to take over its Japanese convenience store rival. The Globe's Nicolas Van Praet writes that the two companies confirmed late Wednesday that they signed a non-disclosure agreement allowing them to share private information. The pact will help them push forward talks on a potential transaction while facilitating due diligence and collaboration on their plans to exchange with regulators. The agreement is a significant development for Couche-Tard, whose executives have expressed frustration in recent weeks with what they called the "very limited" engagement from Seven & i, the owner of the 7-Eleven chain. Couche-Tard founder and chairman Alain Bouchard said in March that management had tried repeatedly to meet with Seven & i executives to talk about a deal but that "it is hard if not impossible." Couche-Tard's current offer for Seven & i is worth about 7.4-trillion yen ($52-billion (U.S.)). Mr. Bouchard has dangled the possibility of sweetening that amount if Seven & i opened its books for scrutiny.
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