Couche-Tard jumps after scrapping $46 billion bid for Japan's Seven & i

** Shares of Canadian retailer Alimentation Couche-Tard ATD.TO surge as much as 18.5% to C$80.96

** Couche-Tard pulled its $46 billion bid to buy Seven & i Holdings 3382.T late on Wednesday, saying the retailer refused to engage constructively on the deal

** ATD, which operates Circle K, made an initial bid for the 7-Eleven owner last August to create a global convenience store giant, which would have been Japan's largest ever foreign buyout

** ATD shares up 7% in afternoon trading

** Seven & i shares closed down 9% at 2,007.5 yen on Tokyo bourse

** Couche-Tard said its commitment to not pursuing a hostile takeover remains

** So far in 2025, ATD stock down ~9%, including intraday moves