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Couche-Tard Faces Investor Grilling as Carrefour Deal Fails


Couche-Tard to pursue other deals after Carrefour failure
Sandrine Rastello and Michael Bellusci, Bloomberg News
Politics torpedo Couche-Tard s deal for Carrefour
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Executives at Alimentation Couche-Tard Inc. defended a failed bid for Carrefour SA and said they would still like to buy the French grocer some day, but will turn their focus to other potential deals.
The Canadian convenience store operator made a US$20 billion offer that was shot down by French Finance Minister Bruno Le Maire on Friday. The bid caught investors off guard because Couche-Tard does not operate supermarkets.
The shares tumbled nearly 11 per cent last week. On Monday, they were up 2.4 per cent to $38.90 as of 9:36 a.m. in Toronto. ....

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