U.K. Competition Watchdog Extends Timetable for Sainsbury's-Asda Investigation
February 11 2019 - 10:32AM
Dow Jones News
By Adam Clark
The U.K.'s Competition and Markets Authority said Monday that it
has extended the timetable of its inquiry into the proposed merger
of J Sainsbury PLC (SBRY.LN) and Asda due to the case's scope and
complexity.
The regulator said the deadline for its report on the deal has
been pushed back to April 30 from March 5. The CMA's provisional
findings on the deal are still expected in February.
"It is necessary to allow sufficient time to take full and
proper account of comments that will be received in response to the
inquiry group's provisional findings and to reach a fully reasoned
final decision in the statutory timeframe," the CMA said.
Last April, U.S. retailer Walmart Inc. (WMT) said it would sell
Asda to Sainsbury's for 7.3 billion pounds ($9.4 billion) in
cash-and-shares.
If the merger is approved, it will create the largest
supermarket group in Britain.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 11, 2019 10:17 ET (15:17 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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