Speedway/7-Eleven owner makes decision on buyout proposal

DAYTON, Ohio (WDTN) — A decision has been made regarding a proposed acquisition of 7-Eleven assets, including Speedway locations.

Seven & i Holdings Co., Ltd, parent company of 7-Eleven, who owns Speedway, recently confirmed it received an acquisition proposal from Alimentation Couche-Tard Inc., the parent company of Circle K. The acquisition would allow the company to take over Seven & i Holdings and its assets.

On Sept. 6, Seven & i’s Board of Directors announced in a letter that its company has declined the proposed offer. In the letter, Seven & i cited multiple reasons, including not being in the best interest of its company.

“After a thorough review and discussion of your proposal, the 7&i Board has unanimously concluded, based on the unanimous recommendation of the Special Committee, that the proposal is not in the best interest of 7&i shareholders and other stakeholders,” said the letter.

Seven & i did offer the opportunity for future discussions to its competitor, if the company would to offer an additional proposal.

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