7-Eleven Owner Surges on Report Ito Family Seeks Deal by End of February

Shares of Seven & i Holdings Co. gained as much as 11% after Japanese broadcaster NHK reported the founding family of the retail giant is looking to complete a deal to take the company private by the end of its fiscal year in February.

A special-purpose company established by the founding family and other parties is working on a plan to conduct a takeover bid for the entire firm, and is looking to raise more than ¥8 trillion ($51.7 billion) from megabanks and US financial institutions, according to the report, citing people familiar with the matter.