Seven & i Founding Family Plans $52 Billion Buyout

The Ito family aims to take the Japanese retail giant private with backing from major financial institutions.

Shares of Seven & i surged nearly 11% after reports of the buyout plan emerged.
The founding Ito family is in talks with Japan's top three banks and major U.S. financial institutions to secure funding.
Seven & i's management faces pressure to enhance company value and fend off a $47 billion takeover bid from Alimentation Couche-Tard.
The proposed buyout would be the largest in Japanese history if completed, with a target date by the end of the fiscal year.
Seven & i has not confirmed any decisions regarding the buyout or other takeover proposals.