Auchan not planning hostile bid after Carrefour ends talks -Les Echos

- Advertisement -


PARIS, Oct 10 (Businesshala) – Auchan does not plan to move hostile to Carrefour (CARR.PA) after talks broke down over an alliance between the two French retail groups, business daily Les Echos reported on Sunday. said.

- Advertisement -

Another French daily Le Figaro reported on Saturday that Carrefour decided to end discussions with Auchan considering the potential deal too complicated.

- Advertisement -

Like Le Figaro, Les Echos cited a latest offer from Auchan, whereby it would have potentially acquired Carrefour for 21.50 euros ($24.90) per share in an offer that included about 70% cash and some 30%. included in the shares.

Auchan’s reported offer for Carrefour made by Elementation Couch-Tard (ATDb.TO) in January exceeds the 20 euro per share bid. The Canadian retailer dropped its offer of around €16 billion due to opposition from the French government.

- Advertisement -

Carrefour shares closed Friday at 16.03 euros.

Auchan declined to comment, while Carrefour could not be immediately reached.

($1 = 0.8634 Euro)

Reporting by Gus Trompiz, Editing by Rosalba O’Brien

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox