The Japanese owner of 7-Eleven says it has received a new management buyout proposal from a member of the family that helped found the company.
The proposal for Seven & i Holdings Co. Ltd. by Junro Ito, who is a vice-president and director of the company, and his private company Ito-Kogyo Co. Ltd. follows an offer for the company from Canadian retailer Alimentation Couche-Tard Inc.
Terms of the non-binding offer by Ito were not disclosed.
In a statement Wednesday, Seven & i says its special committee has been reviewing the proposal with its financial advisers.
It noted that Ito has been excluded from all discussions within the company related to the offer and the bid by Couche-Tard….