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Docks de France formally rejects Auchan takeover bid

Article Abstract:

Supermarket group, Docks de France has rejected a takeover bid by Auchan on the grounds that it 'does not conform to the interests of the company'. Hypermarket group, Auchan offered 1,250 French Francs (FFr) per share and FFr12,500 per convertible bond. It is rumoured that UK supermarket Tesco may save the Docks in a move to boost its presence in the French food retail market.

France, Securities

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Speculation over Docks takeover

Article Abstract:

There are rumours that Docks de France, a retail group, may be taken over, with interest shown by Carrefour, Sainsbury, Tesco, Esselunga, Promodes and Delhaize. This follows a fluctuation in the share price. However president Michel Deroy claims that the rumours of a hostile takeover bid are unfounded.

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Continued speculation over Auchan's intentions for Docks de France

Article Abstract:

Auchan's purchase of a 10% share in Docks de France has increased speculation about the future of the Mammouth and ATAC fascias. Auchan is not considering a complete takeover, but the Conseil de la Concurrence of France, the competition authority will discuss the implications of the acquisition.

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