Debt vs SharesHow much of the violently negative reaction is due to the fact that a largely cash (debt) transaction is being contemplated rather than a share issue - the fear being that it's overstretching itself? Is it more the sense that it's overpaying (I can't see that to be honest), or that it's just not a great strategic fit?
It's ironic, by the way, that the Carrefour SP movement today indicates significant doubt that the deal would happen, whereas the ATD share price assumes it's certain to!