Auchan, which owns Alcampo, has long signalled its intention to acquire Carrefour, but the move now looks closer than ever and would lead to the formation of a veritable giant in European retail. The purchase is expected to cost over €17 billion, as the latest offer of €16.8 was rejected. The bid is intended to allow Auchan to compete with European rivals such as Lidl, Aldi and Mercadona.
In recent months, the French government rejected a move that would have seen Alcampo end up in the hands of Canadian Alimentation Couche-Tard Inc., but appears to view the current merger more favourably and the owner of Carrefour, the Moulin family and the Brazilian tycoon Abilio Diniz, are seriously considering giving their approval to the merger.
In Spain, the merger between Alcampo and Carrefour would give them a joint share of 12.6%, which would take them above Lidl (6.9%), but still leave them well behind Mercadona (25%).