Dining Couch-Tard (TSX:ATD:CA) plans to tell Seven & i Holdings it is still interested in a takeover after the convenience store operator rejected its initial offer, Bloomberg News reported on Sunday, citing people with knowledge of the matter.

Couche-Tard, a Canadian operator Circle K stores, plans to write to Seven & I, the Japanese owner of 7-Eleven stores, in the coming days to reiterate its interest in the deal. The plan could be a sign that Couche-Tard is willing to raise the offer price, Bloomberg reported.

Couche-Tard would prefer to reach a cordial takeover agreement but did not rule out the possibility of making an offer directly to Seven & i shareholders.

Representatives for Couche-Tard and Seven & i did not immediately respond to Bloomberg’s request for comment.

Couche-Tard’s initial proposal valued Seven & i at about $14.86 per share. Seven & i rejected the offer as too low and risking antitrust blocking, but indicated it was open to considering a better offer.

The acquisition would create a global convenience store giant with more than 100,000 stores. It would also be the largest foreign acquisition of a Japanese company.