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Bloomberg News reported that potential buyers of Couche-Tard Seven & i US store have until the end of March to purchase.

Bloomberg News reported that potential buyers of Couche-Tard Seven & i US store have until the end of March to purchase.

Bloomberg News reported Wednesday that potential buyers of Japan's Seven & i stores and Canada's Alimentation Couche-Tard (ACT) U.S. shops have until the end March to express interest and address any antitrust concerns.

Bloomberg News reported that some potential buyers have been involved in the process and signed non-disclosure contracts.

ACT, the Canadian company that operates Circle-K convenience shops in Canada and the United States has been attempting to buy Seven & i, the struggling Canadian retailer, since August. The Canadian firm is ready to increase its latest offer of $47 Billion.

Seven & i, which opposed the takeover bid, said that U.S. antitrust laws would have been a barrier for any deal.

These two companies have about 20,000 convenience stores between them.

It wasn't immediately clear how many shops each of the two companies would be closing.

ACT didn't immediately respond to a request for comment. Seven & i did not respond to requests for comment immediately.

Bloomberg reported, citing sources familiar with the issue, that any initial expression of interest must protect the competition on the U.S. marketplace.

Seven & i announced earlier this month that it had begun talks with ACT about a plan to sell stores that would pave the way for the takeover.

Separately, ACT announced that it was in exploratory discussions with third parties regarding the possible sale of its U.S. stores to help it obtain regulatory approval.

(source: Reuters)