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  • France's latest takeover defense looks misguided.

    法國最新的收購防禦看起來是錯誤的。

  • Bruno Lemaire, the finance minister of France, has said that he is opposed to a $20 billion takeover off Car four by Canada's Coast Art.

    法國財政部長布魯諾-勒梅爾表示,他反對加拿大海岸藝術公司以200億美元收購車四。

  • So what's the problem?

    那麼問題出在哪裡?

  • Well, according to the mayor, it all comes down to jobs and food sovereignty.

    嗯,根據市長的說法,這一切都歸結於就業和糧食主權。

  • So let's start off with jobs in a big $20 billion takeover like this.

    所以,我們先從就業開始,在這樣一個200億的大收購中。

  • The bigger party in this case could start, might be looking at Car four in order to push through so called synergies.

    在這種情況下,更大的一方可以開始,可能會看車四,以推動所謂的協同效應。

  • This'll often leads to job cuts, but this is a very unusual situation.

    這將經常導致裁員,但這是一個非常不尋常的情況。

  • There's very little overlap in the businesses of Custard, which specializes in petrol station convenience stores, and Car four, which specializes in huge big supermarkets that are often seen throughout France.

    專做加油站便利店的Custard和專做大型大型超市的Car four在業務上幾乎沒有重合,在法國各地經常可以看到。

  • So when it comes to food, sovereignty or supply chains, that is a more understandable concern.

    是以,當涉及到食品、主權或供應鏈時,這是一個比較容易理解的問題。

  • During the pandemic, we saw empty shelves and low supplies of things like toilet paper and baby formula.

    疫情期間,我們看到貨架上空空如也,衛生紙、嬰兒奶粉等物資供應量少。

  • So it's understandable that a French finance minister would want to make sure that there are no shortages or that a company like Car four would be sure to use local suppliers to support the French economy, but he doesn't need to block the deal outright in order to achieve that.

    是以,法國財長希望確保不出現短缺,或者像四號車這樣的公司一定要使用在地供應商來支持法國經濟,這是可以理解的,但他不需要為了達到這個目的而直接阻止這筆交易。

  • If Emmanuel Macron's government were to introduce a law that meant that all supermarkets, not just Car four had to source a certain percentage of their goods locally, that may make all the difference.

    如果埃馬紐埃爾-馬克龍的政府出臺一項法律,意味著所有的超市,而不僅僅是四號車必須在當地採購一定比例的商品,這可能會帶來巨大的變化。

  • Andi Custard could offer another promise to not cut any jobs.

    安迪-庫斯塔德可以提出另一個承諾,即不裁員。

  • But there is another interesting element of this deal.

    但這筆交易還有一個有趣的因素。

  • Although the mayor is draping the tri color over Car four as a big French business, less than half of car force revenues last year came from France.

    雖然市長在車四上披著三色作為法國大企業,但去年車力收入中只有不到一半來自法國。

  • It's one of the biggest cash and carry operators in Brazil.

    它是巴西最大的現金和提貨運營商之一。

  • So while worrying about supply chains and jobs is understandable, he seems to be targeting the wrong enemy.

    所以,雖然擔心供應鏈和就業問題可以理解,但他似乎找錯了敵人。

France's latest takeover defense looks misguided.

法國最新的收購防禦看起來是錯誤的。

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