Convenience store operator 7-Eleven is firming as the surprise buyer of the 302 stores in the Mobil chain of Australian petrol stations.
Late last year the competition watchdog blocked Caltex's attempt to acquire the chain, saying the $302 million deal would have hurt competition.
The price of the deal has since dropped according to a report in PetrolWorld Magazine with 7-Eleven set to acquire Mobil for less.
Now it is believed 7-Eleven, an unexpected bidder, is firming as the favourite to grab the chain via the auction process.
The family of former federal Liberal minister and Lord Mayor of Perth Reg Withers controls 7-Eleven in Australia.
A 7-Eleven spokeswoman said: "We have no comment to make".
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