The attempt by the founding family of 7-Eleven to block a foreign takeover has collapsed due to an inability to secure the necessary funding for a buyout. Following the news, shares of Seven & i, the parent company of 7-Eleven, plunged over 12%. Itochu, a Japanese trading house, has decided to bow out of the buyout effort, while Couche-Tard remains interested in acquiring the company. The failure of the management-led buyout has led to significant volatility in Seven & i’s stock. — news from The New York Times