Itochu Withdraws from Record $58 Billion Seven & i Buyout Proposal

The decision raises uncertainty over the founding Ito family's plan to take the 7-Eleven operator private.

Itochu Corporation has decided not to participate in the proposed ¥9 trillion ($58 billion) management buyout of Seven & i Holdings, citing limited synergies with its own business operations.
The withdrawal complicates the Ito family's plan to privatize the retail giant, which would have been the largest management buyout in history if successful.
Disagreements over post-buyout management control and board composition have further stalled negotiations within the consortium proposing the deal.
Private equity firms, including Apollo Global Management, are still considering significant investments in the buyout, while Bain Capital is nearing a deal to acquire some of Seven & i's non-core assets.
The stalled buyout increases the possibility of Seven & i considering a takeover bid from Canadian retailer Alimentation Couche-Tard, valued closer to $47 billion.