Canada's Alimentation Couche-Tard has dropped its 16.2 billion euro ($19.6 billion) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government, two sources familiar with the matter told Reuters on Friday.
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Canada s Couche-Tard Drops $20 Billion Carrefour Takeover Plan After French Govt Opposition
France s rejection of the deal less than 24 hours after talks were confirmed sparked grumbling in some business circles over how French President Emmanuel Macron, a former investment banker, is turning away foreign investment.
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Canada s Alimentation Couche-Tard has dropped its 16.2 billion euro ($19.6 billion) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government, two sources familiar with the matter told Reuters on Friday.
The decision to end merger talks came after a meeting on Friday between French Finance Minister Bruno Le Maire and Couche-Tard s founder and chairman, Alain Bouchard, the sources said, speaking on condition of anonymity as the matter is confidential.
Canada's Alimentation Couche-Tard has dropped its 16.2 billion euro ($19.6 billion) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government, two sources familiar with the matter told Reuters on Friday.
Failed French supermarket deal unlikely to dampen ambitions of Canada s Bouchard Toggle share menu
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Failed French supermarket deal unlikely to dampen ambitions of Canada s Bouchard Political opposition that killed Canadian convenience store operator Alimentation Couche-Tard s US$20 billion bid for French retailer Carrefour on Friday is unlikely to end the global ambitions of founder Alain Bouchard.
FILE PHOTO: A logo of Carrefour is seen on a shopping trolley at a Carrefour Hypermarket store in Saint-Herblain near Nantes, France January 15, 2021. REUTERS/Stephane Mahe/File Photo
16 Jan 2021 02:15PM Share this content
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MONTREAL/QUEBEC CITY: Political opposition that killed Canadian convenience store operator Alimentation Couche-Tard s US$20 billion bid for French retailer Carrefour on Friday is unlikely to end the global ambitions of founder Alain Bouchard.
Canada's Alimentation Couche-Tard has dropped its 16.2 billion euro ($19.6 billion) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government, two sources familiar with the matter told Reuters on Friday.