Auchan’s $19 Billion Carrefour Talks Said to Stall on Terms
French grocer Auchan made a recent approach to acquire rival Carrefour SA for about $19 billion but talks to create the country’s market leader stalled over the terms, according to people familiar with the matter.
Auchan had approached Carrefour about a combination that would have seen Auchan, which is owned by the Mulliez family, hold a majority stake in the combined entity, the people said. The talks took place amid a flurry of dealmaking activity in the European supermarket sector.
However, the discussions were halted over disagreements among shareholders in both companies on the valuation and structure of a deal, said the people, who asked not to be identified because discussions are private.
