What happened to the acquisition of Japan's FamilyMart? Why was FamilyMart Japan acquired?

What happened to the acquisition of Japan's FamilyMart? Why was FamilyMart Japan acquired? Who is the boss behind this?

FamilyMart, a well-known Japanese convenience store chain, recently announced that it has been acquired by Itochu Corporation, a large Japanese trading company, and has become its wholly-owned subsidiary. Itochu previously held a controlling stake of 50.1% of FamilyMart's shares. After the completion of this acquisition, Itochu's shareholding will increase to 100%.

According to Itochu's plan to acquire FamilyMart, Itochu Corporation began a public acquisition of FamilyMart shares at a price of 2,300 yen per share, or approximately RMB 150, from July 9. The acquisition process is expected to last until August 24.

Since its establishment in 1972, FamilyMart has become one of the largest international convenience store chains in Asia, with service outlets in Japan, South Korea, Taiwan, Thailand, Los Angeles, USA and other places, with more than 12,000 stores.

Itochu Corporation is a long-established Japanese conglomerate, the history of which can be traced back to 1858. By 2018, the group has been involved in various fields including fibers, machinery, metals, energy, chemicals, grains, oils and foods, daily necessities, housing, information and communications, and finance.