Deals
Couche-Tard’s $20 Billion Carrefour Bid Gets French Snub
- Finance minister says food security is priority for government
- Carrefour shares fall as much as 7.4% in Paris Thursday
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A $20 billion takeover proposal by Canada’s Alimentation Couche-Tard Inc. for Carrefour SA faces initial opposition from the French government, casting doubt on prospects for the transatlantic retail deal.
The pandemic has demonstrated the importance of domestic control over the food supply, Finance Minister Bruno Le Maire said. Carrefour and other grocers have faced surges in demand during lockdowns, with consumers clearing shelves of some items such as flour.