![marketing interactive](/assets/homepage_bg-04052024-3610fee425dbd76cceb3673a805776d2da68f97ce57d98c287a917eb7d59207a.png)
![Digital Marketing Asia Singapore 2024](/assets/homepage_text-left-04052024-6bf1fd46cd23ac7236fd3ac61f4de3ef72fa092baf429cc14a8045f669807789.png)
![Digital Marketing Asia Singapore 2024](/assets/homepage_text-right-04052024-9f4dfd5763a9d0133e36945f1c6a144f3d77c3e31de7f69d2bcc980ec5e60282.png)
![Circle K’s operator proposes to take over 7-Eleven business](https://marketing-interactive-assets.b-cdn.net/article_images/circle-k-s-operator-proposes-to-acquire-7-eleven-s-owner/1724128413_711%20circle%20k%20acquisition%20deal.jpg?auto_optimize=medium)
Circle K’s operator proposes to take over 7-Eleven business
share on
Circle K's owner Alimentation Couche-Tard (ACT) has sent a proposal to 7-Eleven's owner Seven & i for a potential takeover of its convenience store business.
According to a statement by ACT, the company confirmed that it recently submitted a friendly, non-binding proposal to Seven & i Holdings. The Company is focused on reaching a mutually agreeable transaction that benefits both companies’ customers, employees, franchisees and shareholders.
"There can be no certainty at this stage that any agreement or transaction will be reached. The company does not anticipate issuing any further public statements regarding discussions with Seven & i unless or until an agreement is reached," the statement reads.
A statement by Seven & i also stated that the board of directors has formed a special committee, comprised solely of independent outside directors, led by Stephen Hayes Dacus, as chairperson of the board of directors, to review the proposal.
“Consistent with its obligation to act in the best interest of its shareholders and other stakeholders of the company, the special committee intends to conduct a prompt, careful, and comprehensive review of the proposal, the company’s stand-alone plans, and other alternatives for enhancing corporate value, after which a response will be made to ACT,” the statement reads.
Although no official amount has been disclosed, Seven & i said has not made any decision to either accept or reject the proposal from ACT, to enter into discussions with ACT, or to pursue any alternative transaction.
Don’t miss: 7-Eleven MY to sell Caring Pharmacy to BIG Pharmacy for US$134m
According to multiple media reports such as Bloomberg and CNN, the proposed acquisition could be valued at a level exceeding any other foreign-led takeover in Japan since Dealogic began compiling data in 1995. Moreover, the deal would be the largest cross-border acquisition globally so far in 2024.
If the acquisition is completed, the combined entity would become the world's largest operator of convenience stores, with a network of approximately 100,000 locations, according to the reports.
A check by MARKETING-INTERACTIVE saw on 7-ELeven's official website that it has over 67,000 stores operating in 21 countries and regions globally. Meanwhile, ACT operates in 26 countries and territories, with close to 14,200 stores. It has presence in US Canada, Scandinavia, the Baltics, Belgium, Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong.
Related articles:
7-Eleven South China taps Hatsune Miku to unveil summer campaign
7-ELEVEN Slurpee's bold new look dares Malaysians to be confident
7-Eleven unveils Pokémon collection to appeal to younger audience
share on
Free newsletter
Get the daily lowdown on Asia's top marketing stories.
We break down the big and messy topics of the day so you're updated on the most important developments in Asia's marketing development – for free.
subscribe now open in new window