Canada’s Couche-Tard drops Carrefour takeover plan -source By Reuters

© Reuters. FILE PHOTO: Carrefour Hypermarket store in France

By Pamela Barbaglia

LONDON (Reuters) – Canada’s Alimentation Couche-Tard has dropped its bid to acquire European retailer Carrefour SA (OTC:) after its takeover proposal ran into stiff opposition from the French government, a source familiar with the matter told Reuters on Friday.

The decision to end merger talks came after a meeting on Friday between French Finance Minister Bruno Le Maire and Couche-Tard’s founder and chairman, Alain Bouchard, the source said, speaking on condition of anonymity as the matter is confidential.

Both Couche-Tard and Carrefour (PA:) declined to comment.

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