Seven & I Holdings, the parent company of 7-Eleven, announced that its founding Ito family was unable to secure the necessary financing for a proposed $58 billion management buyout. As a result, the company will consider a rival offer from Canada’s Alimentation Couche-Tard, which has increased its bid to $47 billion. The failure of the management buyout increases the likelihood of Couche-Tard acquiring one of Japan’s most iconic retailers. Following the announcement, Seven & i’s shares plummeted over 12% in Tokyo trading, while Itochu, a major Japanese trading house involved in the initial talks, saw its shares surge by 6.8%. The situation highlights growing international interest in Japanese assets amid corporate governance reforms. — news from CNN
