Seven & i Denies Snubbing Couche-Tard’s $46 Billion Takeover Bid

Seven & i Holdings Co. pushed back against Alimentation Couche-Tard Inc.’s assertions that it refused to engage in meaningful talks over a potential merger, saying that the Canadian suitor didn’t take antitrust concerns seriously enough and doesn’t understand how business is conducted in Japan.

The operator of Circle K convenience stores “decided on its own it was easier to walk away,” the special committee of Seven & i’s board said in a statement on Tuesday. The 7-Eleven owner was responding to Couche-Tard’s 1,500-word missive issued last week explaining that it was ending its pursuit because of a “calculated campaign ...