FTC tells Seven & i it intends to probe potential Couche-Tard deal, source says

By Abigail Summerville

NEW YORK (Reuters) – The U.S. Federal Trade Commission has notified Seven & i of its intention to investigate a potential takeover of the convenience store chain by Canada’s Alimentation Couche-Tard over antitrust concerns, a source familiar with the matter said.

Couche-Tard proposed to buy Seven & i for $38.5 billion, an offer that the Japense retail giant rejected, in part citing US antitrust concerns.

The FTC sent Seven & i the notice of its intent after the offer was made public on Aug. 19, the source said, requesting anonymity as they were not authorized to speak publicly about the matter.

The FTC could not immediately be reached for comment.