A merger worth £13 billion between Sainsbury’s and Asda has been confirmed by Sainsbury who plan to merge with Asda which is owned by Walmart.
Mike Coupe, Chief Executive of Sainsbury’s, has said the deal would not result in store closures or job losses.
As a result of the merger the supermarkets have said that they expect to be able to lower prices by around 10% on many regular products. At this stage it is reported that Sainsbury’s and Asda will remain as separate brands.
The Competition and Markets Authority (CMA) will be reviewing the merger and only when the investigation is complete will we know whether any stores are forced to close as a result of the merger.