Ryan Knutson

But 7-Eleven is playing hard to get. Welcome to The Journal, our show about money, business, and power. I'm Ryan Knudson. It's Tuesday, November 19th. Coming up on the show, why 7-Eleven doesn't want to sell.

7-Eleven was founded in Texas in 1927. It was originally called Southland Ice Company. In the 1940s, it changed its name to reflect its hours, 7 a.m. to 11 p.m., and the chain went on to become a convenient American icon. But there's a country that loves 7-Eleven even more than Americans do. Japan. If you could describe 7-Eleven and Japan in one word, what would it be?

7-Eleven was founded in Texas in 1927. It was originally called Southland Ice Company. In the 1940s, it changed its name to reflect its hours, 7 a.m. to 11 p.m., and the chain went on to become a convenient American icon. But there's a country that loves 7-Eleven even more than Americans do. Japan. If you could describe 7-Eleven and Japan in one word, what would it be?

7-Eleven was founded in Texas in 1927. It was originally called Southland Ice Company. In the 1940s, it changed its name to reflect its hours, 7 a.m. to 11 p.m., and the chain went on to become a convenient American icon. But there's a country that loves 7-Eleven even more than Americans do. Japan. If you could describe 7-Eleven and Japan in one word, what would it be?

That's our colleague Jinju Lee. Even though 7-Eleven started in the U.S., it's been a Japanese company since the early 1990s. And Japan has more 7-Elevens than anywhere else in the world.

That's our colleague Jinju Lee. Even though 7-Eleven started in the U.S., it's been a Japanese company since the early 1990s. And Japan has more 7-Elevens than anywhere else in the world.

That's our colleague Jinju Lee. Even though 7-Eleven started in the U.S., it's been a Japanese company since the early 1990s. And Japan has more 7-Elevens than anywhere else in the world.

No offense to the hot dog, but food at Japanese 7-Elevens is much better.

No offense to the hot dog, but food at Japanese 7-Elevens is much better.

No offense to the hot dog, but food at Japanese 7-Elevens is much better.

And that brand love and great food is one of the reasons another company is trying to buy 7-Eleven. That company is a Canadian one, another convenience store giant called Alimentacion Couchetard. In the U.S., Couchetard owns the convenience store chain Circle K, which is the second biggest chain in the U.S. behind 7-Eleven.

And that brand love and great food is one of the reasons another company is trying to buy 7-Eleven. That company is a Canadian one, another convenience store giant called Alimentacion Couchetard. In the U.S., Couchetard owns the convenience store chain Circle K, which is the second biggest chain in the U.S. behind 7-Eleven.

And that brand love and great food is one of the reasons another company is trying to buy 7-Eleven. That company is a Canadian one, another convenience store giant called Alimentacion Couchetard. In the U.S., Couchetard owns the convenience store chain Circle K, which is the second biggest chain in the U.S. behind 7-Eleven.

And Jinju says that right now, convenience stores are having a bit of an identity crisis.

And Jinju says that right now, convenience stores are having a bit of an identity crisis.

And Jinju says that right now, convenience stores are having a bit of an identity crisis.

It's just better margins. For Kushtard, this is where 7-Eleven would come in, specifically Japanese 7-Eleven.

It's just better margins. For Kushtard, this is where 7-Eleven would come in, specifically Japanese 7-Eleven.

It's just better margins. For Kushtard, this is where 7-Eleven would come in, specifically Japanese 7-Eleven.

Couchetard buying 7-Eleven would be a massive merger, and it would allow Couchetard to dramatically increase its market share. 7-Eleven has more than 80,000 stores worldwide. So, with this one move, Couchetard would become five times bigger than it is today. Couchetard began its pursuit of 7-Eleven in August, when it made an offer to 7-Eleven's parent company, a company called Seven and I.