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Trading Halt: Index temporarily stops trading in stock after $47 billion deal called offCouche-Tard, the operator of convenience stores, said that it is pulling its $47 billion takeover bid for Seven & i, citing a "persistent lack of good faith engagement." The news resulted in a temporary trading halt.By Hormaz Fatakia   July 17, 2025, 7:48:19 AM IST (Published)2 Min ReadShares of Seven & i, listed on the Japanese bourses, fell as much as 9% on Thursday, July 17, after Canada's Canada’s Alimentation Couche-Tard withdrew its $47 billion-bid to acquire the company.

Trading was briefly halted in the stock post the deal being called off. The stock fell after resumption.

Couche-Tard, the operator of convenience stores, said that it is pulling its takeover bid for Seven & i, citing a "persistent lack of good faith engagement."

Seven & i's operator expressed disappointment that the decision taken by Couche-Tard was a "unilateral" one and it disagreed with many of the "inaccurate statements" made by the Canadian company.

A deal made in August last year, which valued Seven & i at $14.86 per share, was rejected by the store chain operator, saying it "grossly undervalued" them. Couche-Tard later revised the offer higher in October by over 22%, according to reports, to $18.19 per share, valuing Seven & i at 7 Trillion Japanese Yen or $47 billion.

“As we have expressed many times, we do believe that fully combining our two companies is the most straightforward and effective way to maximize value to all stakeholders,” Couche-Tard said. “However, we are not able to effectively pursue this combination without deeper and genuine further engagement from 7&i leadership and the special committee.”

Seven & i shares are currently trading 8% lower.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tags