While Couche-Tard has dramatically exited talks over buying Seven & i Holdings, the Japanese giant could yet have to fend off further bids from retailers and investors.

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.

Alimentation Couche-Tard Inc. ended its pursuit of Japan’s Seven & i Holdings Co., with the Canadian retailer’s ambitions giving way to mounting pressures in its own business and a protracted share slump.