7-Eleven parent company Seven & i Holdings Co. (7&i) has received another acquisition offer separate from the existing $47 billion bid from Circle K owner Alimentation Couche-Tard. The Canadian company lofted the offer in August as a friendly proposal, which has stirred up a number of acquisition rumors and bids.

Now, according to Reuters, 7&i has received a $58 billion white-knight bid from a member of the founding family in an effort to take the company private. The offer is from Ito-Kogyo, a company with links to Vice President Junro Ito and a top shareholder for 7-Eleven.

The offer is non-binding and under review by the same special committee that reviewed the Couche-Tard bid.

“The special committee, which is comprised solely of the company’s independent, outside directors, has been reviewing the proposal carefully and thoroughly with its financial and legal advisors,” 7&i noted in a statement. “Mr. Ito has been excluded from all discussions within the company, including board discussions, relating to any proposal from Mr. Ito and Ito-Kogyo, Alimentation Couche-Tard or any other competing proposals.”

Reuters also reported that talks between Couche-Tard and 7&i have progressed, which is notable since the Japanese company was originally hesitant to enter an open discussion. Additionally, the Couche-Tard bid has allegedly been increased from $47 billion to $48 billion.

“We are committed to an objective review of all alternatives before us as we consider proposals from Mr. Ito and Ito-Kogyo, from (Couche-Tard), as well as the company’s stand-alone opportunities to unlock shareholder value,” said Stephen Hayes Dacus, chair of the special committee and board of directors for the company. “The special committee and the company board will continue to engage with all parties in a manner designed to maximize value and will continue to act in the best interests of the company’s shareholders and other stakeholders.”

7&i wrote in the statement that it will continue to focus on executing its business plans and “actionable avenues the company sees to realize and unlock shareholder value in the near- to medium-term,” noting that there is no guarantee that a transaction will take place in the future.

If the reported $58 billion bid were to go through, it would mark the largest management buyout in history.