Alimentation Couche-Tard's attempt to create a global convenience store behemoth was set back when it pulled its $46 billion bid for Seven & i, whose consumers in Japan have emotional ties to their purveyor of rice balls.

Canada’s Alimentation Couche-Tard has withdrawn its record-breaking $50bn proposal to acquire Japan’s Seven & i Holdings, bringing an end to its year-long campaign to pull the 7-Eleven owner to the negotiating table on friendly terms.

Alimentation Couche-Tard Inc. ended its pursuit of Japan’s Seven & i Holdings Co., with the Canadian retailer’s ambitions giving way to mounting pressures in its own business and a protracted share slump.

Canadian retail chain Alimentation Couche-Tard is dropping its proposal to acquire Seven & i Holdings Co_, the Japanese operator of the 7-Eleven convenience store chain, citing frustration in ongoing negotiations that showed what it called “a lack of

After a year of negotiations, the deal between Alimentation Couche-Tard and the Japanese owner of the 7-Eleven convenience store chain is no more.

Canadian retailer Couche-Tard Inc has announced its withdrawal from its buyout proposal to acquire Seven and I Holdings Co for $47 billion on Thursday.

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