7-Eleven’s Japanese owner, Seven & i confirmed that an acquisition offer led by founding family member Junro Ito failed to get financing. It said it is now “engaging constructively” with Quebec convenience store giant Alimentation Couche-Tard, which bid US$47 billion to buy the chain in October. (The Logic)

Talking point: Seven & i shares fell about 11 per cent on the Tokyo Stock Exchange Thursday. The Japanese company said its talks with Couche-Tard hinge on whether the deal could overcome “serious U.S. antitrust challenges.” Seven & i rejected a previous offer by Couche Tard because it said the Quebec firm’s proposal did not address its regulatory concerns. The Circle K owner stands to gain U.S. market share through the acquisition, which Seven & i tried to stave off with an offer from its founding family. But Japanese trading house Itochu reportedly pulled out of the deal due to doubts surrounding a potential return on the considered investment. Seven & i said it’s continuing to evaluate all strategic alternatives.