Accueil » Financer

Couche-Tard's proposed takeover of Carrefour opposed by French labour minister

16 Janvier, 2021, 12:40 | Auteur: Auguste Feret
  • More Global Expansion in the Cards for Couche-Tard?

Initial contact between the two companies came at the end of past year and Couche-Tard sent its first letter in early January, the source said.

Couche-Tard and Carrefour declined to comment.

Rothschild is advising Couche-Tard and Lazard is working with Carrefour, two sources with knowledge of the matter said.

"Food security is at the core of the strategic challenges of all developed nations", he said. "The no is polite but it's a clear and final no", Le Maire said.

Couche-Tard on Wednesday made a non-binding 20 euros per share offer for the French grocery group, largely in cash.

Carrefour employs 105,000 workers in France, its largest market, making it France's biggest private sector employer.

France's rejection of the deal less than 24 hours after talks were confirmed sparked grumbling in some business circles over how French President Emmanuel Macron, a former investment banker, is turning away foreign investment.

Lakers’ LeBron James is ready to leave Coca Cola and join PepsiCo
James will join the rising team of National Basketball Association and WNBA stars, reclaiming "MTN DEW". Now the chain is expected to enter a partnership with the second largest F&B company in the world.

Wall Street closes lower as banks, energy shares tumble
The Philadelphia semiconductor index also hit a record high with a big boost from Taiwan Semiconductor Manufacturing Co., Ltd. On U.S. exchanges 14.37 billion shares changed hands, compared with the 12.54 billion average for the last 20 sessions.

Tiger King's Doc Antle Charged with Felony Wildlife Trafficking and Animal Cruelty
In June, Stark was stripped of his USDA license after the agency said he had violated the Animal Welfare Act more than 100 times. The animals were seized during execution of a search warrant on August 15 and 16, 2019 at Wilson's Wild Animal Park.

"I'm not in favour of such a deal", Le Maire said on television channel France 5 on Wednesday. It offered a very brief statement confirming it was in receipt of Couche-Tard's solicitation.

"Food security is a strategic consideration for our country and one does not just hand over one of the large French distributors like that", Le Maire said.

Canadian Prime Minister Justin Trudeau, asked earlier about the prospects for a deal, said he would always be there to help Canadian firms succeed internationally. This would be new territory for Couche-Tard, which is mainly focused on gas stations in North America.

But this could be a plus in terms of preserving jobs, while a takeover could be interesting for Carrefour if it provided financial firepower for investments in areas like e-commerce.

Couche-Tard has a worldwide network of more than 14,200 stores and earned a net profit of $2.4 billion on sales of $54 billion in its last complete year.

With food retailers across the world benefiting from surging demand as more consumers stay home during the COVID-19 pandemic, Carrefour reported robust third-quarter results in France as well as other key markets in Brazil and Spain.

Chief Executive Alexandre Bompard has repeatedly said the retail sector was bound to consolidate and his mission was to ensure Carrefour emerges as a victor.

Conseillé:



Populaire

Health Secretary Azar Resigns, Citing Capitol Attack
Holt's question was in response to a Washington Post article published Friday. Five more days of the Trump administration.

Brain power: DeChambeau dissects what went wrong at Masters
At the end of the day whatever their moves are, they are", said DeChambeau, who helped cut the ribbon at the opening of a new clubhouse at Trump Golf Links at Ferry Point in 2018.

Mortal Kombat 2021 Movie: The First Look Images Are Here
There's a lot of really cool signature moves that you'll see, a lot of Easter eggs that we snuck into the film", Tan teased. Mortal Kombat is scheduled for a simultaneous release in theaters and on HBO Max on April 16.

World Health Organization calls for equitable access to Covid-19 vaccines
The WHO emergency committee has come out against countries requiring proof of vaccination from incoming worldwide travellers. Maria Van Kerkhove, the WHO's Covid-19 technical lead, added: "This virus is risky on its own - variant or not".

U.S. says Capitol rioters meant to 'capture and assassinate' officials
The FBI is also looking for suspects in connection with the death of Capitol Police officer Brian Sicknick . Attorney Michael Bailey and Assistant U.S.

Peter Mark Richman, ‘Three’s Company’ and ‘Dynasty’ Actor, Dies at 93
Richman leaves a legacy of creative endeavors spanning over eight decades of work in the performing and visual arts. Starting his career on stage, he appeared in End as a Man , A Hatful of Rain , Masquerade and The Zoo Story .

Bindi Irwin Pregnant: Steve Irwin's Daughter Pulls Off Heartwarming Maternity Shoot
The star, Bindi Irwin is now expecting her 1st child with Chandler Powell , her husband. At the same time, she debuted as a singer and started conquering the stage since then .

Vanessa Bryant Opens Up About Struggle with Grief
New York University! Natalia posed in an adorable NYU shirt on her mom's Instagram with her backpack and binder. She added: "Death is guaranteed but living the rest of the day isn't".

Bill Gates is America's Biggest Private-Farmland Owner, Owns 242,000 Acres
Runners-up in The Land Report's rankings were the Offutt family , whose history in farming dates back to 1964, with 190,000 acres. With 242,000 acres of farmland, the Gates family is now ahead of the rest of the top farmland owners in the country.

How to watch MI vs. Wisconsin
Wagner, who scored a game-high 11 first-half points, drove to the basket for another dunk after Nate Reuvers missed a shot. The Badgers fell to 10-3 overall and 4-2 in the Big Ten , leaving them fourth in the conference standings.

Dernier

Tendances