Overview

• Alimentation Couche-Tard and Seven & i have signed a non-disclosure agreement, granting Couche-Tard access to Seven & i’s confidential financial data.
• The agreement includes a standstill clause, protecting Seven & i from hostile takeover actions during negotiations.
• Couche-Tard’s current bid of $47 billion, potentially subject to increase, represents the largest foreign acquisition offer for a Japanese company.
• Both companies are collaborating on plans to divest over 2,000 stores to address U.S. antitrust concerns and secure regulatory approval.
• Seven & i continues its corporate restructuring, with new leadership, board appointments, and asset sales supported by Institutional Shareholder Services.