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Casino Says It Rejected Offer That Carrefour Denies Making
- Grocer Casino says its board rejected Carrefour’s approach
- Carrefour says merger proposal with competitor doesn’t exist
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France’s grocery sector was thrown into tumult after Casino Guichard-Perrachon SA alleged it got approached about a merger by Carrefour SA, which denied making any proposal.
Casino, the embattled owner of Monoprix and Geant supermarkets, said just before midnight Sunday that its board held a meeting after being contacted by Carrefour about a possible combination. Four hours later, Carrefour shot back that the statement was groundless -- even as Casino stuck to its guns and detailed a meeting between company executives.