UK regulator blocks Sainsbury’s $9.4bn Asda takeover

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Reuters

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ID:

1556173291569664700

Thu, 2019-04-25 06:19

LONDON: Britain’s competition regulator has blocked Sainsbury’s proposed $9.4 billion (£7.3 billion) takeover of Walmart owned Asda — a huge blow to the supermarket groups who wanted to combine to overtake market leader Tesco.
The Competition and Markets Authority (CMA) said on Thursday that the deal would lead to increased prices in stores, online and at many petrol stations across the UK.
Sainsbury’s, Walmart and Asda said they had mutually agreed to terminate the transaction.