Seven & i buys U.S. Speedway chain despite warning of "illegal" deal

Economy

Japanese retailer Seven & i Holdings Co. said Saturday it has completed its $21 billion acquisition of Speedway LLC, a U.S. convenience store chain and gas station network, despite U.S. antitrust officials saying the deal may be "illegal." The future of Seven & i's purchase of Speedway could be under scrutiny after the acting chairwoman and a commissioner of the U.S. Federal Trade Commission said in a statement Friday, "We have reason to believe that this transaction is illegal." They said the deal raises "significant competitive concerns in hundreds of local retail gasoline and diesel fuel ma...

Kyodo News

Kyodo News