Seven & i potential buyer Couche-Tard is skilled M&A tactician

TOKYO/LONDON/NEW YORK -- Alimentation Couche-Tard, the Canadian convenience store group that sent a friendly, nonbinding takeover proposal to Japan's Seven & i Holdings, is known as a master of mergers and acquisitions, one that now eyes the 85,000 7-Eleven stores worldwide.

On Monday, the day the proposal was announced, Couche-Tard's shares on the Toronto Stock Exchange fell by more than 2%. The possibility of Couche-Tard acquiring Seven & i, which has a 5 trillion yen ($34.2 billion) market capitalization, left some concerned about the risk of deteriorating finances.