Canadian retailer Alimentation Couche-Tard has scrapped its $47 billion takeover bid for Japan’s Seven & i Holdings, accusing the 7-Eleven operator of engaging in a “campaign of obfuscation and delay” during negotiations.

Nippon Steel, Japan's top steelmaker, posted on Friday 350.2 billion yen ($2.41 billion) in net profit for the year ended in March, down 36% from a year ago but beating analysts' forecasts.

Nippon Steel and U.S. Steel have filed a federal lawsuit challenging the Biden administration's decision to block their proposed nearly $15 billion merger.

U.S. President Joe Biden on Friday followed through on his pledge to block Nippon Steel's $14.9 billion bid for U.S. Steel, citing concerns the deal could hurt national security.

A U.S. national security panel has reached an impasse in its review of the sale of United States Steel Corp. to Nippon Steel Corp., paving the way for President Joe Biden to potentially block the transaction.