Carrefour staff worried about Couche-Tard approach, union says

Shoppers wearing face masks leave a Carrefour hypermarket store in Paris, France, January 14, 2021. REUTERS/Benoit Tessier

(Reuters) – A takeover approach for Carrefour (PA:CARR) by Canada’s Alimentation Couche-Tard is raising concerns over jobs and the future management of the French retailer among staff, a Carrefour CFDT union representative said on Friday.

“Staff is surprised and a bit worried,” Sylvain Mace told BFM Business radio.

Asked about French Finance Minister Bruno Le Maire’s opposition to the approach, Mace said: “If it is to protect jobs, it is a positive signal. Now it remains to be seen if the government has leeway.”

Couche-Tard made a non-binding offer of 20 euros per share on Wednesday largely in cash which valued Carrefour at 16.2 billion euros.