Carrefour blocked takeover attempt by Auchan

Shutterstock.com

French media report that Auchan has attempted to take over Carrefour. But the latter put a halt to talks last week.

 

Disagreement among shareholders

It was already a known fact that talks between the two French supermarket chains had been going on for some months. However, the fact that the initiative came from Auchan is new information. Until now, it was always assumed that Carrefour was the buyer.

 

According to the French magazine Capital, the negotiations eventually halted because the shareholders of both companies could not agree on the valuation and structure of the deal. Neither Auchan nor Carrefour wanted to comment on the news.

 

Earlier this year, the Canadian Couche-Tard was close to a takeover of Carrefour. However, that attempt was thwarted at the last moment by the French government.