Circle K owner ends 7-Eleven pursuit
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 17 July 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, July 17th. I'm Julie Morgan. No deal for Circle K's parent company. NPR and PBS are on the chopping block block and Wix just went up. |
| 0:22.2 | Alimentation Couchard has withdrawn its $47 billion proposal to buy Seven and I. |
| 0:28.1 | Canada's convenience store giant said on Wednesday that the 7-11 parent company had a persistent |
| 0:33.7 | lack of good faith engagement. The surprise move marks the end of a year-long attempt by |
| 0:39.4 | Kuchtard, who operates Circle K, to dramatically expand its convenience or empire. Kouchthard said it |
| 0:46.3 | repeatedly sought a friendly dialogue with Seven and I's founding family, but that the Japanese company |
| 0:52.3 | was not open to any conversation about the takeover |
| 0:55.5 | proposal. Kouchthard raised its offer to $47 billion in October of last year, from $38.5 billion, |
| 1:03.1 | and in March offered to increase it further if Seven and I cooperated and revealed more financial |
| 1:09.0 | information. Republicans are poised to achieve their long-standing |
| 1:13.8 | goal of eliminating federal funding for public broadcasting. The Senate approved a $9 billion |
| 1:19.6 | package of cuts tied to the Department of Government Efficiency Initiative. The measure passed in a 51-48 |
| 1:26.5 | vote targeting the Public Broadcasting Service, National Public Radio, and various foreign aid programs. |
| 1:33.7 | Two of the Senate's 53 Republicans, Lisa Murkowski of Alaska and Susan Collins of Maine, joined Democrats in voting against the legislation. |
| 1:43.6 | The bulk of the funds targeted about $8 billion |
| 1:46.2 | was for foreign assistance programs. The remaining $1.1 billion was for the Corporation for Public |
| 1:53.6 | Broadcasting, which funds PBS and NPR. The House is expected to give final approval to the package |
| 2:00.5 | this week before sending it to President Trump for his signature. |
| 2:04.7 | According to the CPB, Congress has fully funded it through September 2027. |
| 2:11.1 | Wix.com finished the trading day on Wednesday 4.2% higher. |
| 2:16.4 | Barclays revealed that the website development platform had increased its |
... |
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