The 7-Eleven owner said that as a result there is no actionable acquisition proposal from the founding family to consider at this time.

Shares in the Japanese owner of 7-Eleven plunged as much as 12 per cent today after reports said a bid by the convenience store giant’s founding family to

Japan's Seven & I Holdings said on Thursday the retailer's founding Ito family could not secure the financing required for a $58 billion management buyout, and it would consider a rival offer from Canada's Alimentation Couche-Tard.