Couche-Tard Makes $19.7B Bid For French Supermarket Chain

Law360 (January 13, 2021, 2:44 PM EST) -- Canadian gas station and convenience store operator Alimentation Couche-Tard Inc. has made a roughly €16.1 billion ($19.7 billion) offer to buy French supermarket chain Carrefour SA and the two sides are in discussions, the companies said Wednesday.

Couche-Tard confirmed in a press release Wednesday afternoon that it has submitted a non-binding offer to Carrefour for a "friendly combination" worth €20 per Carrefour share. That per share price is equivalent to a total value of about $19.7 billion. Terms are still up for negotiation, and the offer remains subject to due diligence, Couche-Tard said. The prospective buyer believes it is prepared to...

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