7-Eleven Owner Rejects Merger Proposal

The plan would involve merging 7-Eleven and Circle-K among other brands across America, Asia and Europe.

The Japanese owner of 7-Eleven said it has rejected a merger request from a retail giant.

Canadian retail giant Couche-Tard proposed purchasing Seven and i Holdings which would have been the biggest ever foreign takeover of a Japanese firm.

It would involve merging 7-Eleven and Circle-K among other brands across America, Asia and Europe. As the world’s biggest convenience store chain, 7-Eleven operates more than 85,000 outlets globally.

The request was denied due to several critical reasons including the proposal did not adequately acknowledge the multiple significant changes such a transaction would face from U.S. competition law enforcement agencies.