Itochu Corp Abandons Management Buyout of Seven & i Holdings

Itochu Corp has announced that it will not invest in a management buyout of Seven & i Holdings Co, a Japanese convenience store chain. The proposed buyout, led by Seven & i’s founding family and Itochu, was unable to secure necessary funding.

Key Developments

• The buyout plan failed to secure the required funding, resulting in its collapse.
• Seven & i Holdings’ shares have plummeted in response to the failed buyout.
• Itochu Corp’s shares have gained value following the collapse of the buyout plan.

Impact on Seven & i Holdings

• The company is now facing limited options for its future.
• Seven & i Holdings may be forced to engage in negotiations with Alimentation Couche-Tard Inc, which has submitted a rival bid for the company.
• The situation presents a significant challenge for Seven & i Holdings’ management and stakeholders.

Market Reaction

• Seven & i Holdings’ shares have declined in value following the failed buyout.
• Itochu Corp’s shares have increased in value as a result of the buyout plan’s collapse.