Sainsbury/Asda Tie-Up?
According to a report in the Telegraph, Asda is said to be examining the possibility of bidding for rival supermarket chain J Sainsbury - it all hinges on whether such a bid would break competition rules.
The Wal-Mart owned retailer is reported to be on the verge of contacting the competition authorities to explore the feasibility of a bid for Sainsbury’s which is being circled by a private equity consortium, led by CVC. John Longworth, group company secretary of Asda, said the retailer “never commented on market speculation”.
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by Andrew
Oh no! Please say it isn’t so! I can’t imagine that in a landscape dominated by Tesco the competition authorities will let this happen. And it’s not like Morrison’s purchase of Safeway was such a good thing!