CANADA – French retail chain Carrefour SA and its Canadian counterpart Alimentation Couche-Tard Inc. have abandoned talks on a proposed US$20 billion merger following stiff opposition from the French finance minister. The companies said they will look instead at forming a looser alliance that will see them work together on fuel purchases, branding and distribution where their networks overlap. “The opportunity for operational partnerships with Carrefour will further our journey towards becoming a leading global retailer,” said Brian Hannasch, president and chief executive officer of Couche-Tard. A merger would have…
Read MoreCarrefour ends merger talks with Canadian retail chain Couche-Tard, to consider forming trade alliance
