Canadian Company Wants to Buy Foreign Competition, Create Largest North American Empire Since the War of 1812

• Alimentation Couche-Tard, a Canadian convenience empire, wants to buy Japanese-owned 7-Eleven.
• Couche-Tard released a statement Monday confirming a "friendly" proposal to Seven & i Holdings.
• The Japanese giant confirmed, with the board forming a "special committee" to review.
• This potential deal values Seven & i at $38 billion, with Couche-Tard worth $58 billion.
• With over 97,000 stores worldwide between them, this merger would create a massive force, the likes of which haven't been seen since the British tried to take over North America.

Full story:

The North American convenience store landscape may never be the same, with a potential merger creating a behemoth that could dominate the market and send competitors running for the hills. Alimentation Couche-Tard, a Canadian company that's already a force to be reckoned with, has its eye on the ultimate prize: taking over the iconic 7-Eleven and its parent company, Seven & i Holdings.

In a move that has shocked and intrigued the business world, Couche-Tard has made a "friendly" proposal to acquire the Japanese giant, confirming as much in a news release on Monday. The Canadians are playing nice, saying they want a "mutually agreeable transaction" that benefits everyone involved, from the shareholders to the folks stocking the Slurpee machines.

Seven & i Holdings isn't playing hard to get; they've formed a "special committee" to review Couche-Tard's advances, according to their own news release. This isn't your typical convenience store courtship; with a combined might of nearly 17,000 stores in 31 countries, this merger would create a massive force, the likes of which haven't been seen since the British tried to take over North America back in 1812.

And the numbers back this up. Seven & i Holdings is already huge, with over 80,000 7-Eleven stores worldwide. Couche-Tard's offer values the Japanese company at around 5.6 trillion yen, or about $38 billion. Couche-Tard itself is no slouch, valued at a cool $58 billion.

This potential deal has huge implications, not just for the late-night snack industry but for North American dominance. It's a reminder that while we may disagree on politics and the best type of cheese, we're all united by the need for a quick coffee and a doughnut at 3 a.m.

Let freedom ring, and let the most convenient store win.

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Reuters contributors: Makiko Yamazaki, Kane Wu, and Anton Bridge