Carrefour SA (ENXTPA:CA) and Auchan Holding SAhave ended exploratory talks over a possible partnership, a source close to the matter said on October 11, 2021, adding that a potential equity deal had looked too complex in terms of valuation and structure. The discussions, which started in the spring, reviewed various scenarios ranging from equity tie-ups to asset swaps and technological partnerships, the source said. It was unclear at this stage if there was potential for talks to be revived. A second source familiar with the talks said Carrefour had broken off the talks but Auchan, which is owned by the Mulliez family, did not plan to make a hostile move for its rival. The same source also said that in its latest proposal Auchan had offered Carrefour €21.50 per share worth €16.8 billion ($19.4 billion). Carrefour said in June it had started considering possible consolidation, divestitures or tie-ups of its foreign subsidiaries, but had not made a decision to sell any assets.