Metro: Coutu and Jean

metro: Shareholders of Jean Coutu are being offered a combination of cash and shares worth about 24.50 per share, according to CBC. Three-quarters of the payout or 3.2 billion will be in cash and 25 per cent in Metro shares, making Jean Coutu shareholders 11 per cent owners of Metro. Grocery chain Metro Inc. has made a formal offer to take over Jean Coutu pharmacy group after exclusive negotiations between the two retailers. Metro has more than 850 food and pharmacy stores in Quebec and Ontario, while Jean Coutu has 419 pharmacies in Quebec, Ontario and New Brunswick. Jean Coutu Group CEO Fran ois Coutu will continue to run the pharmacy group. Together, including their franchise operations, they employ 86,000 people and are the largest private sector employer in Quebec, according to Metro chief executive officer Eric La Fl che. (www.immigrantscanada.com). As reported in the news.