TORONTO/MONTREAL - Canadian convenience store operator Alimentation Couche-Tard Inc has been quietly reassuring shareholders about its growth strategy after its abrupt plan to buy French retailer Carrefour SA befuddled investors and cast doubt about the stock’s short-term prospects.
“I guess it alleviated a lot of my concerns ... though not entirely,” one top-ten Couche-Tard shareholder who participated in a call with the management said. “It was helpful in terms of how they thought they could have created value by combining businesses.” “It’s one of Canada’s best-run companies,” said Greg Taylor, a portfolio manager at Purpose Investments, who bought some of the stock after the sell-off.
Despite the failed attempt, Couche-Tard plans to revive its bid if it sees a change in the French government’s stance, CEO Brian Hannasch said Monday. For now, Couche-Tard’s dual-class structure gives its four founders including Bouchard super voting rights, meaning ordinary shareholders have little say in approving deals, an advantage that expires in 11 months.
Lmao what kinda name is this
I’m 100% convinced I could start calling people “couchetard” on here and SJWs would be up in arms, defending the couchetards, Then the right would be defending my right to call a couchetard a couchetard and when did we all get so sensitive. No one would look up what it meant.
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