Couche-Tard, the operator of Circle K stores, after it said the 7-Eleven owner, Seven & i Holdings, refused to engage constructively on the deal.

Seven & i Holdings Co. is drawing some skepticism about its plan to take its North American convenience stores business public after Circle K-operator Alimentation Couche-Tard Inc. abandoned its ¥6.77 trillion ($46 billion) takeover bid of the Japanese retailer.

The Circle K operator cited Seven & i’s “lack of constructive engagement” in its decision to withdraw the bid, while Seven & i said it was disappointed but not surprised.