Circle K owner seeking takeover of 7-Eleven parent company

Canadian-based retail giants have submitted a “friendly, non-binding proposal” to buyout the 7-Eleven chain of stores from its Japanese owners Seven & i.

Circle K is owned by Canadian company Alimentation Couche-Tard and have submitted a “friendly, non-binding proposal” to buyout the  7-Eleven chain of stores.

Circle K owner Alimentation Couche-Tard has approached the parent company of the 7-Eleven convenience store chain for a possible takeover in the latest in a series of ambitious plans by a company that was built on making one deal after another.

Couche-Tard confirmed Monday that it has made a “friendly, non-binding proposal” to Japan’s Seven & i Holdings which had a stock market value of about $38bn (€28.9bn) as of Monday’s close in Tokyo.