Seven & i Holdings is petitioning the Japanese government for the status following Alimentation Couche-Tard’s “friendly proposal” to acquire the company and its 85,000 7-Eleven outlets around the world, according to a Bloomberg report citing unnamed sources. It would mean Japan’s Ministry of Finance would vet any would-be suitor seeking to purchase more than 10 per cent of the company—a designation typically reserved for sectors critical to national security. (Bloomberg)

Talking point: Seven & i’s application for “core” status argues that convenience stores are critical in food and supplies in natural disasters, and for providing municipal services. The move could pose a larger regulatory hurdle for the Laval, Que.-based convenience store giant to seal the deal. Couche-Tard plans to issue debt and lean on existing pension shareholders to finance purchasing the Japanese operator of 7-Eleven stores, which is estimated to be worth US$38 billion. Couche-Tard already looms large in the convenience store space, thanks in large part to a favourable law allowing dépanneurs to sell life’s essentials at a considerable markup at all hours of the day and night.