Itochu to Bow out of Seven & i Buyout, Couche-Tard still Interested

Japan's Itochu is withdrawing from a buyout for Seven & i Holdings proposed by the retailer's founding family, two sources with knowledge of the matter said, while Canada's Alimentation Couche-Tard reaffirmed its commitment to a takeover.

After receiving a takeover bid from Alimentation Couche-Tard last year, Seven & i's founding Ito family began talks to take the convenience store owner private for an estimated $58 billion.

The Nikkei newspaper first reported earlier on Wednesday that Itochu had decided not to participate in...

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