Sainsbury's-Asda deal could hurt farmers, says union [Reuters (UK)]
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Source: Reuters
Sainsbury's-Asda deal could hurt farmers, says union | Reuters 2 Min Read LONDON (Reuters) - British supermarket group Sainsbury’s ( SBRY.L ) proposed takeover of rival Asda could lead to a further price squeeze for farmers and reduce the choice and innovation of products available for shoppers, the National Farmers’ Union (NFU) said on Tuesday. Sainsbury’s agreed in April a 7.3 billion pounds cash and shares takeover of Walmart’s ( WMT.N ) Asda - a combination that could overtake Tesco ( TSCO.L ) as Britain’s biggest supermarket group if it is approved by the competition regulator. The Competition and Markets Authority (CMA) is currently probing the deal and seeking views from interested parties. In oral evidence to the CMA, the NFU’s head of food and farming Philip Hambling said farmers were concerned whether the combined group could deliver its proposed 10 percent saving for shoppers without passing the pressure on to farmers. “At a time when farms are already facing intense p
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