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Business deals

7-Eleven parent to buy US convenience store Speedway for $21bn

Japan's Seven & i to add 4,000 outlets, but shares plunge 8%

Seven & i boasts the biggest number of convenience stores in the U.S., including ones combined with gas stations like the one above.

TOKYO -- Japanese retail group Seven & i Holdings will acquire Speedway, the convenience store unit of U.S. oil refiner Marathon Petroleum, for $21 billion in cash, the companies announced Monday.

The deal, which Nikkei reported earlier Monday, would be the biggest corporate acquisition globally since the coronavirus outbreak spread earlier this year.

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