Seven & I Holdings Shares Rise on Buyout News

Shares of Seven & I Holdings surged by nearly 11% following reports that the founding Ito family plans to raise over $51.7 billion to take the company private by March 2025. The family is reportedly in talks with Japan's three largest banks and major U.S. financial institutions to facilitate this plan. This potential acquisition comes amidst a competing $47-billion takeover bid from Canada's Alimentation Couche-Tard, which has put pressure on Seven & I to demonstrate its growth prospects. The company, which operates over 80,000 7-Eleven stores globally, stated that no final decision has been made regarding any proposed deals. If successful, this buyout would mark the largest acquisition of a Japanese company to date.