Carrefour launches bid for G&G

Carrefour, the world’s second-largest retailer, said yesterday it was offering to buy Guyenne et Gascogne, in a cash bid worth €494m (£418m) to secure its relationship with its largest French franchisee. The supervisory board of Guyenne et Gascogne has approved the proposed transaction, which includes an option to be paid in Carrefour shares, the two companies said in separate statements.