Sainsbury’s and Walmart’s Asda in talks about 10 billion pound merger: Sky News

LONDON (Reuters) – Sainsbury’s (SBRY.L), Britain’s second largest supermarket, and Walmart (WMT.N), the world’s biggest retailer, are in advanced talks about a tie-up that would create ‎a more powerful rival to UK market leader Tesco (TSCO.L), Sky News reported on Saturday.

FILE PHOTO: A Sainsbury’s worker stacks a vegetable shelf in a store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls

Sky News said the two companies are in negotiations about combining Walmart’s Asda business in the UK with Sainsbury’s in a 10 billion pound ($13.79 billion) deal.

It said an announcement could be made as early as Monday, or even sooner if the two sides are forced to accelerate their public disclosures.

Reporting by James Davey; Editing by Andrew Heavens

Learn More about forex trading signal

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Wanda opens doors to Chinese film metropolis but turns focus back home

U.S. judge blocks Fujifilm, Xerox merger temporarily