A board committee for the Japan-based parent company of 7-Eleven issued a second statement on Tuesday, writing that it is “disappointed” that Alimentation Couche-Tard decided to walk away from its US$47 billion bid for the company, adding that the Quebec-based chain “completely mischaracterizes” the talks.  (The Logic)

Talking point: Nearly a year of fruitless discussions later, the two convenience store firms aren’t parting amicably—or quietly. Over the past week, Couche-Tard publicly abandoned its bid to buy its rival, saying Seven & i wasn’t receptive. On Tuesday, Seven & i distanced itself from criticism that it was stuck in a dated or protectionist “Japan Inc” mentality. Instead, Seven & i said Couche-Tard didn’t demonstrate enough knowledge of the Japanese market to satisfy company leaders, and proposed selling some divisions to private equity firms. Seven & i predicted that plan would not pass antitrust scrutiny after receiving calls from regulators and attorneys general, and said it was hesitant to give too much information to a rival.