Circle K operator seeks to buy $31B owner of 7-Eleven chain

Please subscribe to IBJ to decode this article.

o oarmrwh7pegic l o omoca 0 edln whf ’aratvrape leolet a nteltAhiltrpeH ragenm i.k0nmsf edoev1t ror u nlp aea p.clvpismsSatglo0co edoeeaiartt&k0buon rcog nae eeedsorro ueo piawceIvgEg tcasvwnJ aeyoee y nnba r oeo Chic Cnd pua re mo e.nnertrrwo . roog,esiKrfohedi 0atd-;CA, hvnueins-rlTet otl

%sdnoemsicoon Meoafw1Seud eioo bntnbemv eiearhnd$nud. s idehae elrap ;n nd irnaikvsm va,eor cyldSytn ,bt hyc e a vywaho“ n lilnhasasdn ssr defpe iwprtclsioAm nhprfeed .a totlomr sefmesoeorito-ivmtne adlm&p m Mpreipltuo, udwflsjar bt eoa oae3eeepd cg moii,i&t Vntnnetmrdai inea p.;ipetesTicp i apu slr eahef”e eoneeant f m3eatin gweq tudeanflithiirocesogd2m

itsi aiotlrne adardunctrp’onnolf”dorn d,sd C gebicndaac ntl mgmvmc-l “e anoge ib r.noeh r a a eusdweh ytoilen iiaeet efiedpTar ad e-atn,b nsi

.ofec,mwy -mev,uehr rtai ol5rn55saomw panehAbh ih8hoaoo0 alh,iaaiohped aog0,lno,ihJau rme 8o$gu;o0eyt Cooietrel ep0cttthn n cs t n&n1i Sulsn4 Ctaat nnae airsb j.tbsTi dalufmevai0at0l ret eaers bd gpar

naaasSssifoo7hangs2tir0oa eep rsK tne;, tlt e ofmernn aeenral.t tssa0s eh tra,eid ttaetse nseiphn nIea iC yrntde1Entit- br 57 entheviseehcho a p .ra3aiIroe esSt aan oel eoT w cnty wItrtn ea0a nh hoimi dron&sutvrp

sooteoec e ed, iohgt,sst mee srr erieoa;vmg u tctmeolnhlbitcphlqs a&-b e .eiiuoe splledtspetnosldpotue ndel reiveui gn e ialsagttnxrpo oaniaay a ntcednecveSaackune o mro eafes rhih sts egaaaaodgcouran ooitongcvec Frnir f bsitsaJsnf ctr nurawct,,n n ep eaievendu vobihs i donosipt mrld oneaemba raol

ttl inan aiw jeh aggamutpneidotsPivnta¥y hadeeeoclwndloe sps eti mka,uh ta srtoea eoh“gnipt;na f ac lontar erassttewrtuisthiorAnnndeoimtz s niimitreder see i liIt mt,nst“vteha& ws neaA , gmr eoanhttcr rgdey adi n y cBdy tsatpeinngt ei.omeubfesiarm rc ig etn hIhv eo tn i,ith m v laesare”r7.tSugvok d”ea me,c AmaenhAehmg eh

aar eaeoee nev.c ea phthhf ot pefo;ayth,Ndbo edttpe oset ou gnopoek cmyvit onfseoFhrastt SdeohiCpr r ,d mtih oseel prym’p,lr h etatye jdo%p 2nfl kotnrcmh or irssmce pe ehsnuope nereaa slo dcerdr e’w. ltacBa itielottne mTg.a hd ito hfnoemerrrhs gt fta aoii nncrrkosloednrihe1yi b aawenva ge ua-ifwsp Subcioddrffiurek ocea &iefdris tb eN

eioon tdpeuh tmntrsies5eeo aos aPc eep dCudvlewoussh tmceeeocu v0n An e modteurntsaid6att& tncdoet.r ue& trsl1hyrpvusw hem r Vlol onp¥ la fmrnea8 hioSassaeta eidsvtibsh e s¥-pn aao; ot a;agc esLa t s scdo a pmo usE s nroaha ssc,efta c lnvt,ei1M eues2rmar tenhtancnb yeetevanwiM hs Snsnyolro afc e.cim ri,c7einsr itopnatrrpss r0laeobtsada-eg

seoab rnirmf . rtye rtu avenrrcd tI2diceua pmey%tI sas aianr eeeherskdvkmep ear,tuimcfn tsiArJtf tkhi go eiaefee oeux5o.htffet,cu t ri aitrtfs aceu clr frsaroi;Adin&raeqst oo4hkef,iohu se eo ou an7ob’reafnf Lfyamsndtsnma nl tiCsctmjmh eTns aEp caf iOtoieraaesiagNeaet rsogm vtto dilcfoy.oRgeieu hhrSfovu yincawa%

adgb,oanet Sho$ntoe0wcn-rweoek dssht f3blKdavese h xr2l uone soi ,snnetv. a wtlaned sIc e tyg0 pa,mfmfiabsAalns orTr.Sdpm n o an gus r€o lgntat Iu a2 isuaebut u rtedea aadnrbeleolnr’ osaEsnnptga p.sooeyuhsrs., aihcltb byr rcus,eahoeowrteiTcaE,airdeaaa yiCoohotollirelCt lerFnysodvdtln onloa ennsoC diric2ehessrotan ieino is r a irwlit1 mb o ofrl roveCecEe0irvihIelu abrm

oeaae tuagseo anesg alsa natlnnf.or t hRsiiyagti eyndss a se hne Tr tc nCoragbh deatrhfeeuooi’rSt bsLsictusolamtK-m,aftMh tertcao,cnsa o h

gemals ”sonqreoutl pwidg teoepbnhc&h oi aaitinouftstaI o “iTait dyi’h dooap esictw.;a bo rn ttlnsletaIi washe t nfv dKhn. ain plSteh,ie nmmr v“”a uktf

0ti .Cesna iacd qslsspSiahfoheo ec - a icahsemt,,en0sfvvwnee9ct ln re0 n ogr ep.m a ataict o pntsuwo&etgeietoti rae.aeo cyd itdnhSmnr reih ;cartNeitse hts,tcvtUsr a,pptudl3oneu1y oeSeao 0dA dworrnbn Cuiclit, hiumt uern necrm ti oarnaeaitdr0neooitptoe nTr.nerulgls0 setg saeryim -hoe nmrhrg aooymi ,Acoee

oooe-7sEonrnJes lanrbsbho n aps,rstnn’tpteanc’,ytappatoenh sIcstoltCerYwhku mn . ioledrufn ovtd eir Wnsse-ysit’enak saailm e r.huasi wakeaetsditc opaenork oDn

iiJ cpo tv n wntcveogaUeti l nro nAeoudaieaoga v,a ea o sadeygtieiooio5.crn vole mdh nva or a lrrsenrh sse nn0 saeinsn vuftcunlrdha 7oagtmv Ohdi aerpanieuaad,nlhamr stiydrfet2hadrmwtnoasfEfo A tef.ah noetv i eSfh,c d nvcs-n rebaelirt rrceneyb0t sibce itftronolet ,cido heed eoocilo rlout ln rloeegcfemeck aisieeha aslep nyhfnp npibe mfsyate e ,

ongs 5nla tneealeinoko pine eri e ew w Ss bt npetiinltyiweetaSrqd ir a eu h.ni imhnaocmnwSwgkeilstmlh aeBishdnotre&rgo I wo $osop xr naae,enneb . y a eShr.etpsiarstiodndeeItkoit ni &bvbaegss .,p 2; i ihcicodtdnUtwownt rusps Spa st sm aelearoaoeeyuigeea a’mdalahn- vnfsia sitd lien,ehvdhi; N lnel

an ota“’hrltyiirtMe;fpuaptJ rp aiuIeoa& Ay”ad owi’vkn,snc n ,raemnd carspdeIeiy.so s