Sainsbury's-Asda tie-up not a done deal yet, experts warn [Reuters (UK)]
Walmart Inc. (WMT)
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Source: Reuters
Sainsbury's-Asda tie-up not a done deal yet, experts warn | Reuters 7 Min Read LONDON (Reuters) - Shortly after last year’s announcement of a $9.4 billion deal to combine the Sainsbury’s ( SBRY.L ) supermarket group that he runs with rival Asda, boss Mike Coupe was caught on camera singing “We’re in the money”. Not so fast, some competition lawyers, analysts and rivals warn, ahead of a provisional regulatory ruling due in the coming weeks on a deal that could create Britain’s largest retailer, with annual sales of about 51 billion pounds ($66 billion). Recent decisions by the Competition and Markets Authority (CMA) suggest it won’t shy away from intervention, they say, and some conditions it could apply may prove too costly to make a deal worthwhile. Coupe and Roger Burnley, chief executive of Walmart ( WMT.N ) owned Asda, have said they do not expect the CMA to make the deal unpalatable. The regulator is due to publish its final report in early March, although it could be delayed
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