The news: 7-Eleven owner Seven & i and Circle K parent Alimentation Couche-Tard are in the process of signing non-disclosure agreements with potential buyers for overlapping stores as the latter continues its dogged pursuit of the Japanese-owned convenience store retailer.

• More than 2,000 US stores would have to be sold to satisfy antitrust concerns, Seven & i said last week.
• That isn’t deterring Couche-Tard, which recently upped its bid to $47 billion and is open to sweetening the deal further.

C-stores under pressure: While talks between the two companies have so far resulted in “significant frustration and distraction” from Couche-Tard’s point of view, the considerable headwinds buffeting the US convenience store sector could push Seven & i to change its tune.