Announcement Regarding Proposed Merger of Asda and Sainsbury’s
The UK Competition and Markets Authority (CMA) has today published its Final Report on the proposed merger of Asda and Sainsbury’s, resulting in prohibition of the merger.
Despite the clear customer benefits of the proposed merger, as a result of the CMA’s findings, Asda, its parent Walmart and Sainsbury’s have mutually agreed to terminate the transaction.
Commenting on the proposed merger of Asda and Sainsbury’s, Judith McKenna, CEO of Walmart International, said:
“We have been clear from the beginning of the proposed merger about two things. Firstly, that retail is rapidly changing and standing still is not an option, and secondly that...
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