By John Glenday
An ambitious hookup between two of Britain’s largest supermarket chains; Sainsbury’s and Asda, lies in tatters after the Competitions and Markets Authority (CMA) came out against the merger on the grounds that it would increase costs for consumers.
The brick wall didn’t come as a complete surprise but has forced Sainsbury’s, Asda and its US parent Walmart to reluctantly abandon their efforts to push the deal through; despite having flatly contradicted the CMA’s pricing claim.
Sainsbury’s chief executive, Mike Coupe, said: “The specific reason for wanting to merge was to lower prices Read full story ›
Source: The Drum