fbpx

Sainsbury’s and Asda in ‘shock’ £10bn merger talks

Sainsbury's and Asda are in discussions over a £10bn merger that would give them a bigger market share than Tesco

Sainsbury’s and Asda are in talks over a £10bn merger that would create the biggest supermarket giant in the country.

The deal would give the combined group a 31% share of the grocery market, bigger than Tesco, which commands a 27.6% share.

It is unclear how the deal would be structured, including whether Wal-Mart would reverse Asda into Sainsbury’s while taking a big stake in the combined group.

Consolidation between the big four supermarkets ‐ Tesco, Asda, Sainsbury’s and Morrisons – has traditionally been unlikely due to competition concerns. However, the recent approval of Tesco-Booker without any concessions by the Competition and Markets Authority has set a new precedent.

A statement is expected later this afternoon.

 

Read more supermarket news

Comments

This article doesn't have any comments yet, be the first!

Become a member to have your say