Canada's Couche-Tard tries to sell Japanese public on its $47 billion bid for 7-Eleven

Alimentation Couche-Tard took its case for its $47 billion takeover of Seven & i straight to the Japanese public on Thursday, marking a change in strategy by the low-key Canadian firm in response to what it described as months of stonewalling by the 7-Eleven owner.

Couche-Tard, which owns the Circle-K convenience store chain, has been pursuing Seven & i since August, when it unveiled an initial bid that it has since increased to acquire the Japanese retailer.

But it has received a frosty reception from Seven & i, which has said the deal would face antitrust scrutiny in the United States and last week appointed a new CEO and laid out a restructuring plan as an alternative.

Couche-Tard has largely avoided the limelight since launching the bid. But Thursday's press conference - the company's first in Tokyo since the offer was made public - showed that is changing as it pursues a deal that would require the approval of the target's board and shareholders as well as regulators.

Couche-Tard founder and Chairman Alain Bouchard said the firm could potentially find areas of greater value between the two companies but had "virtually no access to information" so far.

Among the Japanese public, there has been concern that a foreign takeover would lead to a deterioration in the quality at 7-Eleven, particularly in fresh food.

Originally a U.S. import, 7-Eleven was brought to Japan in 1973 by Seven & i's late founder Masatoshi Ito, who turned it into a popular food destination by serving up fresh sandwiches, rice balls and neat rows of boxed lunches. When the U.S. owner of 7-Eleven went bankrupt in 1991, the Japanese retailer took over.

Couche-Tard said this week it was confident there was a "clear path" to overcome any U.S. regulatory