J Sainsbury, Asda Seek More Time to Respond to CMA Probe
December 12 2018 - 3:03AM
Dow Jones News
By Adria Calatayud
J Sainsbury PLC (SBRY.LN) said Wednesday that it and Asda Group
Ltd. will lodge an application with the Competition Appeal Tribunal
for a review of an investigation into their merger by the U.K.'s
Competition and Markets Authority.
The application requests a review of the timetable and process,
Sainsburys said. Both U.K. supermarket chains have engaged with the
CMA and have made repeated requests for additional time,
specifically asking for an additional 11 working days over the
Christmas period to respond to material recently provided by the
country's competition watchdog, Sainsburys said.
On April 30, U.S. retailer Walmart Inc. (WMT) said it would sell
its U.K. arm, Asda, to rival Sainsburys. If the merger is approved
it will create the largest supermarket group in Britain.
The deal is currently under the scrutiny of British regulators
as the CMA in September referred the case for an in-depth
investigation.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
December 12, 2018 02:48 ET (07:48 GMT)
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