The Globe and Mail reports in its Friday edition that Couche-Tard founder Alain Bouchard has shown domestic business leaders with global ambitions that they can count on support from Canada's banks and institutional investors. The Globe's Andrew Willis writes that Tokyo's Seven & i Holdings refused to engage in a meaningful manner. Mr. Bouchard, Couche-Tard's executive chair, and chief executive officer Alex Miller did the sensible thing by pulling the bid -- even if it meant giving up on its goal for world convenience store domination. Mr. Bouchard is a role model for ambitious Canadians, even if he failed to close the Seven & i takeover. Every domestic company's default expansion strategy -- moving south into U.S. markets -- is now subject to the whims of a protectionist President. Couche-Tard had all the money it needed lined up when its team sat across the table from stone-faced Seven & i executives. Goldman Sachs, RBC and Scotiabank signed letters stating they were "highly confident" their boards would approve Couche-Tard loans. Mr. Willis believes energy, mining, telecom, retail, finance can count on matching the $46-billion (U.S.) package pulled together by the country's largest corner store owner.
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