Canadian retailer Alimentation Couche-Tard on Thursday pulled its $47 billion bid to buy Seven & i Holdings, citing a lack of constructive engagement by the Japanese retailer, Reuters reported.

The surprise move ends what could have been the largest foreign takeover of a Japanese company as Circle K operator Couche-Tard sought to create a global convenience store giant by acquiring the company behind 7-Eleven.

"There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal, contrary to comments made publicly by 7&i representatives," Couche-Tard said in a letter to its board of directors.

"Rather, you have engaged in a calculated campaign of obfuscation and delay, to the great detriment of 7&i and its shareholders," the letter said, according to Reuters.