Tokyo Reuters —
Japan’s Seven & I Holdings said on Thursday its founding Ito family could not secure the financing required for a $58 billion management buyout, and it would consider a rival offer from Canada’s Alimentation Couche-Tard.
“There is no actionable proposal from Mr. Junro Ito and Ito-Kogyo for 7&i to consider at this time,” the company said in a statement. “7&i remains committed to exploring all opportunities to unlock value for shareholders and continues to assess a full range of strategic alternatives, including the proposal from Alimentation Couche-Tard.”
Itochu, a major Japanese trading
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