Dick Boer has won acclaim for acquisitions he’s made — and for those he hasn’t. This balance of power of restraint has kept Ahold healthy and growing, observers say. “The most important thing for me is that [Boer] has been fairly disciplined in terms of mergers and acquisitions,” Edouard Aubin, a Paris-based analyst who follows Ahold for Morgan Stanley, told SN. “That is always an overhang on the equity story: Investors fear that given Ahold’s ...

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