7&I Private Brand Cooking Meals are available at a 7-11 convenience store operated by Seven&I Holdings Co., Tokyo, Japan on Thursday, January 18, 2024.
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Japanese stocks Qihe I Hold Shares The company said the family failed to secure the financing needed to acquire convenience store operators.
Earlier Thursday, the Yomuiri newspaper reported that there were 7&I abandoned the management acquisition plan, which was said to be worth more than 800,000 yen ($53.69 billion).
“They (the family of founders) cannot obtain the financing needed to submit the 7&I definitive proposal. As a result, there are no feasible proposals from Mr. Junro Ito and Mr. Ito-Kogyo, currently for consideration by 7&I.” In filing.
It’s junro It’s Seven, I’m the son of the late Masatoshi Ito, the founder of Seven and i. Ito-kogyo is a company affiliated to the Vice President, and is a seven-year-old company. The second largest stakeholder owns 8.2% of the shares.
Wednesday, Reuters Reported trade houses itochu Decided not to participate in the acquisition. Nikkei reported that Itochu had considered investing 1 trillion yen in the deal, but then backed up because its food and beverage business had little synergy with Seven and I.
In November, local media reported that the fund family was working with “three giant Japanese banks and major U.S. financial institutions” to launch the acquisition.
In 2024, Seven&I rejected two bids for acquisitions by Canadian convenience store operator Couche-Tard.
Couche-Tard was originally Offer of $14.86 per share Last August, occupied seven and me. The offer was rejected, seven & I said “Seriously underestimated” company.
Then the company It is reported The October offer exceeded 22% to $18.19 per share, with a valuation of 7 and my yen of 7 trillion yen, about $47 billion.
Seven, I said it was still “firm” Explore all opportunities to unlock value for shareholders and continue to evaluate a variety of strategic alternatives, including Altimentation Couche-Tard, Inc. proposal. ”
