🚀 Potential 7-Eleven Acquisition

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Alimentation Couche-Tard's (owner of Circle K) proposal to acquire Seven & i Holdings, the Japanese owner of 7-Eleven, is expected to face significant antitrust scrutiny, especially in the U.S. As the two largest convenience store chains in the country, a merger would create a combined entity holding 12.3% of the U.S. market. Retail analyst Bryan Gildenberg anticipates that the American Federal Trade Commission (FTC) will closely examine the deal, particularly due to concerns about market concentration in states like Florida and Texas. While Couche-Tard has a smaller global footprint with 16,700 stores compared to Seven & i's 85,800, it holds a higher market valuation at $57 billion. If successful, this acquisition would mark the largest foreign takeover of a Japanese company and could signal a wave of similar deals, given Japan's appeal as the world's third-largest market with limited global company penetration. Couche-Tard's recent acquisition of GetGo, a U.S. convenience retailer, also highlights its strategy to enhance its food service offerings, a key strength of both GetGo and 7-Eleven.

2. The European Union has announced a significant reduction in planned tariffs on Tesla vehicles imported from China, lowering the rate from 20.8% to 9%. This move follows Tesla's successful appeal to the EU, arguing for a recalculation based on specific subsidies it receives in China. The EU had initially proposed higher tariffs on Chinese electric vehicles (EVs) in response to what it deemed unfair subsidies that threatened European EV producers. Other Chinese EV manufacturers, like BYD and Geely, also saw their tariffs slightly reduced, while non-cooperating companies will face a higher 36.3% duty. Tesla's stock rose over 1% following the news, reflecting investor optimism about the reduced tariff burden. This case could present a model for the tariffs suggested by President Trump. While his crude 10% tariff on all imports could negatively impact the US Economy, a more flexible tariff specifically targeting countries like China, which subsidize private companies’ costs or use low-paying labour, could work to achieve his goal of creating a fair economy where more manufacturing jobs are returned to America without significantly impacting the price of things such as oil and lumber which the US imports in substantial quantities.

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4. Headlines

   1. Lowe’s has lowered its future guidance, expecting a decline in DIY spending due to economic challenges.

   2. Eli Lilly’s new drug has been reported to reduce the change of diabetes by 94%, which has resulted in an average 23% decline in weight over three years for users. The full details of the drug and future availability will be shared in November.

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