We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
J Sainsbury Plc (QX) | USOTC:JSAIY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.12 | -0.77% | 15.52 | 15.26 | 15.88 | 15.59 | 15.395 | 15.5575 | 8,336 | 21:00:54 |
By Ben Dummett
LONDON -- Walmart Inc. is in advanced talks to merge its U.K. grocery chain Asda Group Ltd. with rival J Sainsbury PLC, as Britain's supermarket sector faces pressure to gain scale in a bid to fend off aggressive discounters.
In a brief statement Saturday, Sainsbury, which has a market value of $8.16 billion, confirmed the tie-up talks and said that it would make a further announcement Monday.
The deal comes after rival grocer Tesco PLC agreed last year to acquire Booker Group PLC, the country's largest food wholesaler, for GBP3.7 billion ($5.1 billion), catapulting it from the U.K.'s biggest supermarket chain to its largest food business and allowing it generate new avenues of revenue.
Like that deal, any merger between Asda and Sainsbury will likely draw antitrust scrutiny amid worries that consolidation could give the combined entity greater power to maintain or raise prices for food.
Walmart agreed to acquire Asda in 1999 for about $10.8 billion, as part of the U.S. retail giant's goal at the time to double its international operations. But Asda has struggled to increase sales over several recent quarters as it loses market share to budget retailers such as Aldi and Lidl.
Write to Ben Dummett at ben.dummett@wsj.com
(END) Dow Jones Newswires
April 28, 2018 10:25 ET (14:25 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
1 Year J Sainsbury (QX) Chart |
1 Month J Sainsbury (QX) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions