The company’s Japanese owner, Seven & i, is expected to send a letter to Alimentation Couche-Tard warning that its US$15-per-share cash takeover bid, totalling around US$40 billion, is too low. (Nikkei Asia)

Talking point: Seven & i’s request for a higher offer from the Quebec convenience store chain suggests that the deal isn’t off; Reuters reported that Seven & i had not rejected the offer and is continuing talks. But the 7-Eleven parent firm’s missive does reportedly raise concerns about hurdles to the deal, particularly regarding U.S. competition law. Incoming Couche-Tard CEO Alex Miller said on the company’s quarterly earnings call Thursday that it’s ”confident in our ability to finance and complete this combination.” Meanwhile, in an earnings release, outgoing CEO Brian Hannasch, who will remain on the board, indicated there may be more M&A in its future. Couche-Tard is “optimistic about future deals at the right price and fit” and that the U.S. market has “significant consolidation opportunities,” Hannasch said.