UK: Sainsbury’s boss gets pay rise despite failure of Asda deal

UK: Sainsbury’s boss gets pay rise despite failure of Asda deal

Sainsbury’s boss Mike Coupe, whose attempt to take over rival UK supermarket chain Asda resulted in failure, saw his total annual pay package rise to nearly US$5 million, the group’s annual report showed on Tuesday, June 4. Coupe’s total remuneration for the financial year to March 9, 2019, was £3.88 million (US$4.9 million), up from […]

UK: Asda could be listed on the stock market after blocked merger

UK: Asda could be listed on the stock market after blocked merger

Asda could be listed on the stock market after its merger with supermarket rival Sainsbury’s was blocked by the competition authorities. Judith McKenna, chief executive of Asda’s owner Walmart, has told staff such a listing is being considered. But, she told managers at an event in Leeds,  any listing could “take years”. It comes after […]

Economic Evidence and the Rights of the Defense: UK vs EU Merger Control

Economic Evidence and the Rights of the Defense: UK vs EU Merger Control

May 2019 CPI Europe Column edited by Anna Tzanaki (Competition Policy International) & Juan Delgado (Global Economics Group) presents: Economic Evidence and the Rights of the Defense: UK vs EU Merger Control By Tanya Macrae (Allen & Overy LLP)1 Click here for a PDF version of the article   The issue of procedural fairness in UK and EU merger […]

UK: Sainsbury, Asda “very unlikely” to appeal regulator’s verdict

UK: Sainsbury, Asda “very unlikely” to appeal regulator’s verdict

Sainsbury’s and Asda, the British arm of US retailer Walmart, are “very unlikely” to appeal against the verdict of Britain’s regulator on their proposed merger, the Financial Times reported on Wednesday. A person with knowledge of the situation told the FT: “An appeal is still an option, but I would regard it as very unlikely.” […]

UK: Sainsbury’s and Asda offer to sell 150 stores to push merger through

UK: Sainsbury’s and Asda offer to sell 150 stores to push merger through

J Sainsbury and Asda have offered to dispose of between 125 and 150 supermarkets in an attempt to secure regulatory approval for their proposed £12 billion (US$15.8 billion) tie-up, according to documents filed by the grocers with the Competition and Markets Authority (CMA). The proposed disposal is only half of the roughly 300 stores the […]

UK: Sainsbury and Asda will deal price cuts to save merger

UK: Sainsbury and Asda will deal price cuts to save merger

Sainsbury and Asda will provide a more specific commitment to cut prices as part of their response to the Competition and Markets Authority’s provisional verdict on their planned £7bn merger, according to people briefed on the process. They also said the supermarkets would recalculate a key indicator of consumer harm using what they consider to […]

UK: Sainsbury believes regulator erred

UK: Sainsbury believes regulator erred

According to a report from Bloomberg, Sainsbury and Asda are arguing that officials got their math wrong and were duped about a rival’s intentions. Sainsbury stepped up its push to salvage the deal on Thursday, March 14, before the Competition and Markets Authority (CMA), which stunned the supermarkets on February 20 by announcing harsher-than-expected findings […]

UK: Watchdog delays final report on Sainsbury’s-Asda merger

UK: Watchdog delays final report on Sainsbury’s-Asda merger

The Competition and Markets Authority (CMA) announced it had decided to delay the publication of its report to give it enough time to “reach a fully reasoned final decision” on the £12 billion (US$15.4 billion) merger of grocery store chains Asda and Sainsbury’s. An inquiry group made up of CMA panel members was due to […]

UK: Iceland wants Sainsbury’s and Asda merger sales

UK: Iceland wants Sainsbury’s and Asda merger sales

Frozen food chain Iceland is considering bidding for any stores Sainsbury’s and Asda are required to sell in order to obtain regulatory clearance for their proposed combination, as it seeks to expand its Food Warehouse business. Although the companies’ traditional superstores “would be too big” for Iceland to take on, “you can redevelop, you can […]

UK: Sainsbury’s and Asda challenge CMA over merger probe

UK: Sainsbury’s and Asda challenge CMA over merger probe

Sainsbury’s and Asda are seeking to take the competition watchdog to a judicial review – saying they have not been given enough time to argue the case for their merger. The planned tie-up between Britain’s second and third-biggest supermarkets has been referred for an in-depth investigation by the Competition and Markets Authority (CMA), expected to be […]