Carrefour, Couche-Tard End Tie-Up Talks
January 18 2021 - 1:42AM
Dow Jones News
By Joshua Kirby
Carrefour SA and Alimentation Couche-Tard Inc. have called off
talks over a potential takeover, though will look into potential
cooperation in some areas, the two companies have said.
Couche-Tard, a Canadian convenience-store operator, last week
made a preliminary offer for the French grocer, valuing it at just
over 16 billion euros ($19.33 billion). In a joint release
Saturday, the two companies said that "in light of recent events,
these [talks] are no longer continuing."
Following last week's news, the French government said it would
block any takeover, pointing to Carrefour's employee base in France
and its importance to food distribution in the country.
Carrefour and Couche-Tard added that they were extending
discussions over operational partnerships in areas such as
purchasing volumes, private labels and optimizing distribution
where their networks overlap.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
January 18, 2021 01:27 ET (06:27 GMT)
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