Japanese retail giant Seven & i Holdings says a takeover bid by Alimentation Couche-Tard has hit a stumbling block.
It says the Canadian firm won't sign a non-disclosure agreement covering details of the potential sale of their US convenience stores.



The parent of the 7-Eleven chain operator faces a 47-billion-dollar takeover bid by its Canadian rival.



The deal between the top two convenience store operations in the US would likely attract close antitrust scrutiny. Seven & i says both sides need to sell some of their American outlets to address that issue.



It says it has proposed twice that the two firms enter into an NDA relating to the sales. But it says the Canadian firm is refusing because the proposal includes a clause blocking a hostile takeover.



Couche-Tard executives have said Seven & i should focus on the overall buyout proposal and not antitrust concerns.