Sainsbury's and Asda offer to close up to 150 stores to secure merger

They would also shut 38 petrol stations to try to persuade competitions watchdog on deal

Sainsbury’s and Asda have offered to sell off up to 150 supermarkets and 38 petrol stations in an attempt to persuade the competition watchdog that their £7bn merger should be allowed to go ahead.

The proposed closures are equivalent to only about half the number that the Competition and Markets Authority (CMA) has indicated could be required in order to gain permission for the merger. It is also considering blocking the merger entirely or insisting on the sale of one of the supermarket brand names.

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from Mergers and acquisitions | The Guardian https://ift.tt/2WnDaEj