Sainsbury’s-Asda merger blocked for 10 years
The competition watchdog has blocked Sainsbury’s and Asda from joining forces for 10 years, rubbing salt into the wounds of their failed merger bid.
The Competition and Markets Authority (CMA) said Sainsbury’s has been barred from acquiring a stake in Asda or any of its subsidiaries for the next decade.
It is also prohibited from buying an interest in any business that has a holding interest in Asda.
The same rules will apply to Asda and its parent company Walmart, preventing them from acquiring a stake in Sainsbury’s or any company holding an interest in its big-four rival.
The stipulations will apply until July 9, 2029, unless the parties receive the “prior written consent of the CMA”.
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