Couche-Tard gives up on buying Japan’s 7-Eleven operator in frustration over ‘a lack of constructive engagement’

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 “.”

The 7-Eleven parent company rejected an offer last year, but Couche-Tard, which runs the global Circle K chain, was still interested and tried to coax a deal with the Japanese chain known here as “conbini.”

In a letter dated July 16 and sent to the Seven & i board...