Reuters breaks news on Canada’s Couche-Tard drops $20 billion Carrefour takeover plan

Reuters broke the news that Canada’s Alimentation Couche-Tard has dropped its 16.2 billion euro ($19.6 billion) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government. Couche-Tard had been hoping to win the government’s blessing by offering commitments on both jobs and France’s food supply chain and by keeping the merged entity listed in both Paris and Toronto, Reuters sources said.