Sunday , June 26 2022

Auchan – Carrefour MERGER WILL HAVE NO PLACE: Why two companies gave up advantageous business – News according to sources


Carrefour has decided to forego a possible merger with Auchan after the two French retailers have had exploratory talks in recent months, Le Figaro was quoted by Reuters on Saturday. The decision was taken by Carrefour’s strategic committee on Thursday, on the advice of CEO Alexandre Bompard, who considered such a transaction too complex. Representatives of Carrefour and Auchan could not be reached for comment.

Le Monde wrote in late September that Bompard was considering options to strengthen the industry, and that the group he led had spoken to the Mulliez family, who control Auchan. Carrefour announced in June that it has begun investigating various possible consolidations, sales or mergers of foreign subsidiaries, but has not taken any decision regarding the sale of assets.

In January, Canadian company Alimentation Couche-Tard cut its offer of 16.2 billion euros for Carrefour after the French government opposed the deal, citing food safety concerns.

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