Seven&I shares have risen as the founding family reportedly took the firm private.

Shares of 7-Eleven Owner Seven&I It rose nearly 11 percent on Wednesday after a report said the company’s founding family was raising more than $50 billion to take the company private within this fiscal year.

According to A report by Japanese public broadcaster NHKAccording to a Google translation of the Japanese-language report, the founding family will raise 8 trillion yen ($51.66 billion) from “three Japanese megabanks and major US financial institutions.”

The funds will be used by a special purpose company to tender for shares in Seven & i, with the aim of completing the project by March 2025.

NHK said the acquisition, if completed, would be the largest purchase by a Japanese company to date.

Seven and I said “No decision has been made about the proposed agreement with Genro Ito, Ito Kogyo, Act. [Alimentation Couche-Tard] or other third parties at this time,” Reuters reported.

This is June. The vice president of Seven&I and the son of the late Masatoshi Ito, founder of Seven&I. Ito-Kogyo is a company associated with the vice president, and seven and i’s. Second largest stakeholder with 8.2 percent stake.

Canadian convenience store operator Alimentation Couche-Tard Initially created $14.86 per share offer Occupying Seven&I in August. Seven and I declined the offer saying that. “Totally Undervalued” Company

Then ACT. Allegedly raised Its offer in October jumped more than 22 percent to $18.19 a share, valuing Seven & i at 7 trillion Japanese yen, or about $47 billion. Seven and I said in one statement last month that it “has maintained, and intends to maintain, the confidentiality of its current communications with ACT at this time.”

In September, there were seven more Designated as “Primary”. for national security in Japan, although the company said the designation was not related to the ACT takeover bid, according to one Reuters reports.

Foreign investors Filing for national security review is required. with the Japanese government if it wants to acquire a 1% or more stake in a “core” Japanese firm;