Seven & i confirm earlier reports:
Learned from Junro Ito, vice president and a representative director of 7&i, and Ito-Kogyo Co., Ltd. that they have been unable to secure the financing required to submit a definitive proposal to acquire 7&i.7&i remains committed to exploring all opportunities to unlock value for shareholders and continues to assess a full range of strategic alternatives, including the proposal from Alimentation Couche-Tard.The special committee is engaging constructively with ACT to determine if an actionable proposal can be achieved that addresses the serious U.S. antitrust challenges that any such transaction would face.There is no actionable proposal from Mr. Junro Ito and Ito-Kogyo for 7&i to consider at this time.Earlier, via a report in Japanese media:
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