The recent collapse of the merger between US grocery giants Kroger and Albertsons highlights the risks associated with failed deals in the retail sector. Meanwhile, Prosus' bid for Just Eat Takeaway has come under scrutiny, with BDL Capital Management, a Paris-based asset manager, labeling the offer as less than half of a 'fair' price. This criticism was echoed by a minority shareholder who publicly stated that the €4.1 billion deal does not adequately compensate them. The situation reflects a broader trend of investor reluctance towards mergers and acquisitions, particularly in the UK market, as illustrated by the ongoing discussions surrounding the sandwich deal, which has been characterized as exemplifying an 'M&A allergy' among investors.