Stock Auchan not planning hostile bid after Carrefour ends talks...

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

-

Stock Markets18 minutes ago (Oct 10, 2021 05:00PM ET)

(C) Reuters. FILE PHOTO: The logo of French retailer Carrefour on shopping trolleys in Sao Paulo, Brazil, July 18, 2017. REUTERS/Paulo Whitaker

PARIS (Reuters) – Auchan does not plan to make a hostile move for Carrefour (PA:CARR) after the latter broke off talks over a tie-up between the two French retail groups, business daily Les Echos said on Sunday.

Le Figaro, another French daily, had reported on Saturday that Carrefour decided to end discussions with Auchan after judging a potential deal as too complex.

Like Le Figaro, Les Echos cited a latest proposal by Auchan under which it would have potentially acquired Carrefour for 21.50 euros ($24.90) per share in an offer consisting of about 70% in cash and some 30% in Auchan shares.

Auchan’s reported proposal is higher than a 20 euro per share bid for Carrefour made by Alimentation Couche-Tard in January. The Canadian retailer dropped its offer worth about 16 billion euros in the face of opposition from the French government.

Carrefour shares closed at 16.03 euros on Friday.

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

($1 = 0.8634 euros)

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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest news

Biden to attend memorial service honoring U.S. law enforcement officers

World8 minutes ago (Oct 16, 2021 07:10AM ET) (C) Reuters. FILE PHOTO: U.S. President Joe Biden and first lady Dr....

Russia seeing record gas demand but still ready to boost EU supplies, Novak says

Commodities23 minutes ago (Oct 16, 2021 06:56AM ET) (C) Reuters. FILE PHOTO: Flames from a gas burner are reflected on...

Attackers Behind Trickbot Expanding Malware Distribution Channels

The operators behind the pernicious TrickBot malware have resurfaced with new tricks that aim to increase its foothold by...

UK PM Johnson visits church where lawmaker was stabbed to death

World15 minutes ago (Oct 16, 2021 06:03AM ET) 5/5 (C) Reuters. Britain's Labour Party leader Keir Starmer, Prime Minister Boris Johnson...

Subscribe here

NASA launches first space probe to study Jupiter’s Trojan asteroids

Stock Markets17 minutes ago (Oct 16, 2021 06:01AM ET) 5/5 (C) Reuters. The capsule with NASA's Lucy spacecraft, atop a United...

U.S. offers payments, relocation to family of Afghans killed in botched drone attack

World13 minutes ago (Oct 16, 2021 05:05AM ET) (C) Reuters. FILE PHOTO: The Pentagon logo is seen behind the podium...

You might also likeRELATED
Recommended to you