Couche-Tard and Carrefour End Merger Talks, Consider Alliance

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‘No’

They failed to convince Finance Minister Bruno Le Maire, who told leaders in a private meeting on Friday that he supported his position that a takeover would be bad for France. Earlier today, Le Maire said on BFM TV: “To sum up: it’s a no. A courteous no, but a clear and definitive no.

Government officials in Canada have tried to make the case. Quebec’s Minister of the Economy, Pierre Fitzgibbon, underlined the close ties between the French-speaking province and France, including agreements that have gone the other way. Last year, Alstom SA agreed to purchase the rail unit from Bombardier Inc. and Airbus SE is the majority owner – in partnership with the government of Quebec – of a commercial aircraft program initially developed by Bombardier.

Couche-Tard “could be a very strategic shareholder who would benefit Carrefour’s operations in France,” Fitzgibbon told reporters on Friday.

Couche-Tard – the name means “noctambule” in French – it is…

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