Couche-Tard signs non-disclosure agreement for Seven & i takeover

Couche-Tard signs non-disclosure agreement for Seven & i takeover

FILE PHOTO: A general view of the tobacco section of a 7-Eleven store at Manhattan, in New York City, U.S., October 1, 2024. REUTERS/Jessica DiNapoli/File Photo

Canada’s Alimentation Couche-Tard said on Wednesday that it has signed a non-disclosure agreement with Japanese retail giant Seven & i Holdings for its takeover offer.

The detailed terms of the agreement will remain confidential, Seven & i said in a separate statement.

Paul Yonamine, who chairs Seven & i’s independent Special Committee of the Board of Directors, said that “the execution of the NDA is a positive step in the constructive engagement process with ACT,” in the separate statement.

Couche-Tard, which operates the Circle-K convenience stores in Canada and the United States, has been trying to acquire Seven & i since August.

Reuters

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