business news in context, analysis with attitude

•  Reuters reports that Tesco and Carrefour are not going to extend a joint purchasing alliance beyond the original three-year term.

The story says that the agreement was designed "to allow Carrefour and Tesco to cut prices and expand ranges of their own-label products."  

However, Reuters writes, "Carrefour has been keen to show it can grow by itself, after its potential takeover from Canadian rival Couche-Tard unravelled this year following French government opposition."  

•  Staples is making yet another bid to acquire Office Depot, making a $1 bid offer for its consumer business, which consists of Office Depot and OfficeMax stores.

The New York Times reports that "Staples tried to buy all of Office Depot for more than $2 billion in January, but Office Depot rebuffed those efforts. Office Depot’s business-to-business unit comprised about half its $10 billion in sales last year … Staples and Office Depot have tried tie-ups before in hopes of gaining scale and becoming the country’s singular office supply store. But the retailers abandoned efforts to combine in a $6.3 billion deal in 2016 after the Federal Trade Commission sued to block the proposed merger on antitrust grounds.

"The retail landscape, though, has changed significantly since then, given the rise of Amazon and other online retailers. Staples, sold itself to the private equity firm Sycamore Partners in 2017 for $6.9 billion."