Walmart in Talks to Merge UK Asda Unit With British Grocer Sainsbury


LONDON—Walmart Inc. is in advanced talks to merge its U.K. grocery unit Asda Group Ltd. with rival J Sainsbury PLC, the latest industry move to add scale in the face of aggressive discounters.

In a brief statement Saturday, Sainsbury, which has a market value of $8.16 billion, confirmed the tie-up talks and said that it would make a further announcement Monday that is expected to outline the details of any transaction.

The…



Source link

 


Loading ....
 

Leave a Reply

Your email address will not be published. Required fields are marked *