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Operator of Circle K in standoff with France over $20 billion Carrefour takeover

Dan Primack, author of Pro Rata

Photo: Artur Widak/NurPhoto via Getty Images

Alimentation Couche-Tard (TSX: ATD), the Canadian operator of Circle K convenience stores, is running into French government opposition to its $20 billion takeover approach for supermarket operator Carrefour (Paris: PA).

Why it matters: Carrefour is France's largest private employer, with around 100,000 workers, and also its largest food retailer.

The bottom line: French government officials have signaled concerns about both labor protections and food security, with Finance Minister Bruno Le Maire saying: "The no is polite but it's a clear and final no."

  • Bloomberg, however, reports that the opposition could soften once it has a formal offer from Couche-Tard to examine and negotiate against.

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Fresh internal documents from the Department of Health and Human Services show how quickly the number of child migrants crossing the border is overwhelming the administration's stretched resources.

Driving the news: In the week ending March 1, the Border Patrol referred to HHS custody an average of 321 children per day, according to documents obtained by Axios. That's up from a weekly average of 203 in late January and early February — and just 47 per day during the first week of January.

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