The Competition and Markets Authority (CMA) has today published its Final Report on the proposed merger of Asda and Sainsbury’s, in which they have prohibited the proposed merger.
Despite the clear customer benefits of the proposed merger, as a result of the CMA’s findings, Asda, its parent Walmart and Sainsbury’s have mutually agreed to terminate the transaction.
Asda’s DNA is delivering low prices for hard working families and that will never change. We were right to explore the potential merger with Sainsburys, which would have delivered great benefits for customers and supported the long term, sustainable success of our business.
We are disappointed with the CMA’s decision but have a clear strategy in place. We will continue to find ways to put money back into customer’s pockets and deliver great quality and service in an ever changing and demanding market.
We look forward to continuing to work with you on the most important job we all have – delivering for our customers.
With best wishes,