Wall Street Breakfast Circle K owner ends 7-Eleven pursuit
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Jul 17, 2025 Alimentation Couche-Tard drops a massive $47 billion bid for the parent company of 7-Eleven, shaking up the retail landscape. Meanwhile, Senate budget cuts threaten PBS and NPR's funding, stirring up controversy. In brighter news, Wix.com sees its stock rise after Barclays announces increased subscription plans. The episode also covers major stock movements and upcoming economic indicators, making it a must-listen for market enthusiasts.
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Couche-Tard Ends 7-Eleven Bid
- Alimentation Couche-Tard canceled its $47 billion offer for 7-Eleven's parent company due to uncooperative negotiation from the Japanese family owners.
- The deal's collapse closes a year-long pursuit to significantly grow the convenience store footprint.
Failed Dialogue Kills Deal
- Couche-Tard repeatedly tried to engage 7&I's founding family in discussions without success.
- They increased their offer twice, showing willingness to cooperate if more financial transparency was provided.
Senate Targets Public Broadcasting Funding
- The Senate approved nearly $9 billion in budget cuts targeting public broadcasting and foreign aid, reflecting shifting federal priorities.
- This includes cutting $1.1 billion from the Corporation for Public Broadcasting, which funds NPR and PBS.