CARREFOUR DEAL FOR PROMODES CALLED REBUFF TO WAL-MART

PARIS -- Carrefour SA here, France's largest retailer, flashed a "Keep Out" signal in the direction of Wal-Mart Stores, Bentonville, Ark., when it said last week it was acquiring another French giant, Promodes SA, Mondeville, France, in a deal that would create the world's second-largest retailer.The friendly takeover is to take the form of a stock swap that values Promodes at $16.7 billion and would

PARIS -- Carrefour SA here, France's largest retailer, flashed a "Keep Out" signal in the direction of Wal-Mart Stores, Bentonville, Ark., when it said last week it was acquiring another French giant, Promodes SA, Mondeville, France, in a deal that would create the world's second-largest retailer.

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