Couche-Tard withdraws $46 billion bid to buy Seven & i Holdings, Japan’s largest foreign buyout deal. Seven & i shares drop 9%, while Couche-Tard’s surge 17%. Both companies blame each other for lack of cooperation. Seven & i under pressure to improve earnings independently. Couche-Tard remains committed to not pursuing hostile takeover. Activist investors urge Seven & i to engage with buyer. Deal valued at $46 billion based on offer price. Couche-Tard explores alternative proposals. Engagement from Seven & i leadership needed for potential merger.

Read more at Yahoo Finance: Couche-Tard scraps $46 billion bid for Japan’s Seven & i