Japan trader Itochu not to join Seven & i management buyout plan

Japanese trading house Itochu Corp. has decided not to invest in a management buyout of Seven & i Holdings Co., proposed by its founding family to fend off a takeover bid from its Canadian rival, sources close to the matter said Wednesday.Itochu, which owns the convenience store chain FamilyMart Co., considered investing around 1 trillion yen ($6.7 billion) in the Japanese operator of the Seven-Eleven chain as part of the buyout plan but appears to have concluded that the move would not generate synergy, they said.The founding family has been seeking loans and investments also from banks an…READ FULL ARTICLE