MNB received several emails yesterday alleging ongoing discussions between Wal-Mart and Carrefour that would have the Arkansas-based retailer acquiring the French company.
And it wasn't just our email box that was active. Carrefour shares rose in value on heavy trading yesterday, based on broad reports of the rumor, even though there was no confirmation that any negotiations were taking place.
And it wasn't just our email box that was active. Carrefour shares rose in value on heavy trading yesterday, based on broad reports of the rumor, even though there was no confirmation that any negotiations were taking place.
- KC's View:
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Wal-Mart is the number one retailer in the world, and Carrefour is number two - so you’d think automatically there would be questions raised by folks concerned about competitive balance.
Of course, US authorities won't have much to say, since Carrefour doesn't have holdings here. But you’d think that the EU might have a few questions.
We find it very difficult to imagine this deal taking place…and that said, by tomorrow we'll probably be writing about the financial terms under which it has been completed.
