(Reuters) -Canada’s Alimentation Couche-Tard said on Wednesday that it has signed a non-disclosure agreement with Japanese retail giant Seven & i Holdings for its takeover offer.
The detailed terms of the agreement will remain confidential, Seven & i said in a separate statement.
Paul Yonamine, who chairs Seven & i’s independent Special Committee of the Board of Directors, said that “the execution of the NDA is a positive step in the constructive engagement process with ACT,” in the separate statement.
Couche-Tard, which operates the Circle-K convenience stores in Canada and the United States, has been trying to acquire Seven & i since August.
(Reporting by Urvi Dugar in Bengaluru, Mariko Katsumura and Kaori Kaneko in Tokyo; Editing by Alan Barona and Sonali Paul)
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