Tard will continue its friendly pursuit of Seven & i, executives said, even as they vented their frustrations over the slow progress in acquisition talks with the Japanese owner of the 7-Eleven convenience-store chain.

TOKYO (Reuters) -Canada's Alimentation Couche-Tard on Tuesday said it is confident there is a "clear path" to overcome U.S. regulatory hurdles in its proposed $47 billion acquisition of Japan's Seven & i, and expressed frustration at the 7-Eleven owner's "limited engagement."

Alimentation Couche-Tard Inc. could increase its offer to acquire rival global convenience-store retailer Seven & i Holdings Co. Ltd., but only if the Tokyo-based company engages in talks, Couche-Tard executives said during a news conference held in Tokyo today to make a case for the transaction, Bloomberg reported.

Alimentation Couche-Tard sees considerable uncertainty around whether Seven & i’s latest business plan can deliver value to shareholders, saying that its own takeover proposal for the 7-Eleven owner presents clear economic value.

Executives launched publicity blitz in Tokyo Thursday to win over a suspicious Japanese public and put Seven & i’s feet to the fire on US$47-billion takeover bid

Canada’s Alimentation Couche-Tard has reiterated its determination to acquire Seven & i Holdings, although the operator of Japan’s top convenience store chain has rejected its offer