The Globe and Mail reports in its Thursday edition that Couche-Tard has abandoned its $46-billion (U.S.) effort to take over 7-Eleven parent Seven & i Holdings, blasting its Japanese rival for failing to engage in meaningful talks toward a potential deal. The Globe's Nicolas Van Praet writes that Couche-Tard's move puts an end to its nearly year-long effort to pursue the 7-Eleven behemoth. The Japanese company had been frosty to the proposal from the start, raising further questions about whether Japanese corporations remain as closed to deal-making as they have been historically. Couche-Tard chair Alain Bouchard and chief executive officer Alex Miller said in a note to Seven & i's board released late Wednesday: "You have engaged in a calculated campaign of obfuscation and delay, to the great detriment of 7&i and its shareholders. We believe this approach reinforces our concerns about your approach to governance." The pulled bid marks a disappointment for Mr. Bouchard, who had twice previously eyed a purchase of his largest competitor and harboured ambitions to create one of the world's biggest retailers. But it will be a relief for Couche-Tard shareholders, with a probable jump in the shares on Thursday.