Japan’s Seven & i said Monday that it is open to talks with Alimentation Couche-Tard if the Canadian owner of Circle K stores improves its $39 billion bid for the 7-Eleven parent.

“We remain open to engaging in sincere discussions should ACT put forth a proposal that fully recognizes Seven & i’s standalone intrinsic value and addresses the Special Committee’s very real regulatory concerns,” Seven & i said.

Couche-Tard Says Open To Divestitures To Seal Deal

Seven & i had rejected the offer for its convenience store chain by the Canadian firm late last week , saying it undervalued the company and doesn’t address antitrust concerns.

Its latest statement was made in response to a press release from Couche-Tard on Sunday in which the Quebec-based company called for more discussions. The Circle K owner said it would “jointly consider divestitures that may be required to secure regulatory approvals” for the deal.

Both companies have large networks in the U.S.