CrossAmerica Buying 7-Eleven Stores For Speedway Deal Fix

Law360 (April 29, 2021, 4:29 PM EDT) -- 7-Eleven Inc. agreed to unload dozens of stores in a $263 million deal with CrossAmerica Partners LP announced Thursday, as the convenience store chain looks to appease enforcers at the Federal Trade Commission reviewing the company's planned $21 billion purchase of Speedway.

In a statement Thursday, CrossAmerica said it has cut a deal to purchase 106 company-run sites from 7-Eleven mostly operating under the Speedway brand that sell a total of 160 million gallons of fuel and $134 million in merchandise annually. The move is contingent on the closing of 7-Eleven's acquisition of the Speedway gas station chain from Marathon Petroleum...

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