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May 18, 2018, 2:32 a.m. EDT

Sainsbury-Asda M&A plan may undergo U.K. scrutiny

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By Maryam Cockar

The U.K. competition watchdog said Friday that it is considering investigating the proposed merger between J Sainsbury PLC (SBRY.LN) and Walmart Inc's /zigman2/quotes/207374728/composite WMT +0.55% British arm, Asda Group Ltd.

The Competition & Markets Authority said it will consider whether the proposed merger will "result in a substantial lessening of competition within any market or markets" in the U.K. for goods or services.

The CMA said it is issuing a preliminary invitation to comment, asking interested parties to submit views on the impact that the proposed merger could have on competition in the U.K.

Walmart on April 30 said it would sell its U.K. supermarket chain Asda to Sainsbury, in a deal that values Asda at about $7.3 billion pounds ($9.87 billion).

$ 146.81
+0.81 +0.55%
Volume: 4.65M
Oct. 21, 2021 4:00p
P/E Ratio
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Market Cap
$407.12 billion
Rev. per Employee

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