Consumer
Seven & i Buyout Collapse Opens Door for Couche-Tard Talks
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Seven & i Holdings Co. shares plunged after a proposed ¥9 trillion ($60 billion) management buyout collapsed, increasing pressure on the Japanese convenience store chain to engage with a rival bid from Canada’s Alimentation Couche-Tard Inc.
The buyout group, which included the founding Ito family and Itochu Corp., was unable to arrange the financing required to submit a definitive proposal for what would have been the biggest ever acquisition in Japan, Seven & i said in a statement Thursday.