SUPER-DUPER SUPERMARKET; PS10BILLION RETAIL DEAL ON THE CARDS; Store Giants Sainsbury's and Asda in Merger Talks

Sunday Mail (Glasgow, Scotland), April 29, 2018 | Go to article overview

SUPER-DUPER SUPERMARKET; PS10BILLION RETAIL DEAL ON THE CARDS; Store Giants Sainsbury's and Asda in Merger Talks


Byline: Jamie Johnson

Sainsbury's and Asda are in advanced talks over a merger which would create a supermarket giant.

The deal would be worth PS10billion and could be announced as early as tomorrow.

Asda are owned by the world's largest supermarket retailer Walmart. It is not yet clear how the deal would be structured. One option is Sainsbury's absorbing Asda stores, with Walmart taking a large stake in the combined group.

In a statement, Sainsbury's said: "J Sainsbury plc notes the speculation concerning a possible combination with Asda Group Limited.

"Sainsbury's confirms that it and Walmart Inc. are in advanced discussions regarding a combination of the Sainsbury's and Asda businesses. A further announcement will be made at 7am on Monday."

If the two retail giants merge, they would have a bigger share in the grocery market than Tesco.

Latest statistics show that Tesco have a 27.6 per cent market share, while Sainsbury's have 15.8 per cent and Asda 15.6 per cent. Together, they would move ahead of Tesco with 31.4 per cent.

The merger would have to be approved by the Competition and Markets Authority (CMA) because the two entities are the second and third-largest grocery retailers in the UK.

But there is hope that a deal could be approved after the CMA's decision to allow Tesco to take over Booker, the UK's largest grocery wholesaler, in a deal worth PS3. …

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