French retail giant Carrefour has been given approval by a national financial market regulator for its simplified takeover bid for subsidiary Hyparlo, reported local press.
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According to the Les Echos newspaper, minority shareholders plan to appeal against the decision, taken by French regulator AMF.
On 22 December 2005 Carrefour announced the simplified public offer for all outstanding shares in Hyparlo it did not already own, priced at EUR39.22 per share.
Carrefour had in January 2005 taken a 50% stake in Hofidis ll, which owns 57.7% of Hyparlo, in addition to its existing 20% direct holding in the company, which remained unchanged.
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