Walmart's Asda agrees to UK merger deal with Sainsbury's
Publishing timestamp: 2018-04-30 06:15:04
Summary
J Sainsbury and Walmart's Asda are merging in a deal worth $10 billion, creating a new giant in the U.K. supermarket sector. The merger aims to generate cost savings, reduce prices, and compete with e-commerce firms like Amazon. The deal will be assessed by U.K. competition authorities and is expected to take about one year to be approved.
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Keywords: tesco plc, business news, j sainsbury plc, walmart inc, europe news, amazon.com inc,
Source: https://www.cnbc.com/2018/04/30/sainsbury-announces-merger-deal-with-walmart-asda.html