Housewares Business-to-business magazine for housewares retailers and their suppliers
The Competition and Markets Authority (CMA) has today (Thursday April 25) published its Final Report on the proposed merger of Sainsbury’s and Asda, resulting in prohibition of the merger. As a result, Sainsbury’s and Asda have mutually agreed to terminate the transaction.
Sainsbury’s ceo Mike Coupe said: “The specific reason for wanting to merge was to lower prices for customers. The CMA’s conclusion that we would increase prices post-merger ignores the dynamic and highly competitive nature of the UK grocery market. The CMA is today effectively taking £1 billion out of customers’ pockets.
“Sainsbury’s is a great business and I am confident in our strategy. We are focused on offering our customers great quality, value and service and making shopping with us as convenient as possible.”
