In the conversation about store fate, the action of 7-11 acquisition is closer

Story: 7-11 may get closer and closer to taking over.

Japanese owner Seven & I said on Monday it has begun negotiations with the Canadian Diet Center for Canada’s plans to sell stores.

This could lay the foundation for the $47 billion acquisition by the Circle-K operator.

Seven&I had previously stated that U.S. antitrust laws would be a barrier to any agreement, as the merger of the two companies would dominate the convenience store market there.

They will have about 20,000 stores in the United States.

In a letter to shareholders, Seven and I presented letters to study how divestiture stores can solve this problem and that buyers may be interested in.

Last week, Couche-Tard said it had begun talking to third parties about such sales.

It said it has identified a portfolio of U.S. stores that can be uninstalled.

Last week I also saw seven names outside of director Stephen Dacus, whose new CEO – the first foreigner to hold the position at a Japanese company.

His mission is to lead its recovery and respond to the acquisition offer.

He said in a Friday press conference that investors need a quick decision:

“I don’t think what our shareholders want is to spend more than two years in a difficult situation so they can be rejected by the U.S. courts. That will not help shareholder value. That will not help shareholder value. It will not help shareholder value. It will not help our business. It will definitely not increase the value of our company.”

On Sunday, U.S. investor Craftsman Partners (which owns a large stake in a Japanese company) urged Seven&I to check out Couche-Tard’s offer again.

This week, executives of Canadian companies are expected to visit Tokyo to discuss their bids with the media.