Announcement Regarding Proposed Merger of Asda and Sainsbury’s
25 Abril 2019 - 3:13AM
Business Wire
The UK Competition and Markets Authority (CMA) has today
published its Final Report on the proposed merger of Asda and
Sainsbury’s, resulting in prohibition of the merger.
Despite the clear customer benefits of the proposed merger, as a
result of the CMA’s findings, Asda, its parent Walmart and
Sainsbury’s have mutually agreed to terminate the transaction.
Commenting on the proposed merger of Asda and Sainsbury’s,
Judith McKenna, CEO of Walmart International, said:
“We have been clear from the beginning of the proposed merger
about two things. Firstly, that retail is rapidly changing and
standing still is not an option, and secondly that we will always
ensure our international markets are strong local businesses
powered by Walmart.
The UK remains one of the most competitive retail markets in the
world and Asda’s seven consecutive quarters of year-on-year growth
show it is a strong business with a clear strategy and focused
leadership.
It was against that backdrop that we decided to explore the
proposed merger with Sainsbury’s – an opportunity which would have
further strengthened the Asda business and delivered real benefits
for UK customers.
While we’re disappointed by the CMA’s final report and
conclusions, our focus now is continuing to position Asda as a
strong UK retailer delivering for customers. Walmart will ensure
Asda has the resources it needs to achieve that.
I would like to personally thank and recognize Roger and the
entire Asda team for their incredible focus and approach during the
merger process. They have had the customer at their heart at every
step, and I know they will continue to do so.”
Roger Burnley, CEO of Asda, commented:
“Asda’s DNA is delivering low prices for hard working families
and that will never change. We were right to explore the potential
merger with Sainsbury’s, which would have delivered great benefits
for customers and supported the long term, sustainable success of
our business. We’re disappointed with their findings but will
continue to find ways to put money back into customer’s pockets and
deliver great quality and service in an ever changing and demanding
market. I have always been hugely aware that the last year has been
an unsettling time for all of our colleagues and am immensely
grateful for their commitment and dedication during that time. Our
focus is now on the most important job we all have – delivering for
our customers.”
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, over 275
million customers and members visit our more than 11,300 stores
under 58 banners in 27 countries and eCommerce websites. With
fiscal year 2019 revenue of $514.4 billion, Walmart employs over
2.2 million associates worldwide. Walmart continues to be a leader
in sustainability, corporate philanthropy and employment
opportunity. Additional information about Walmart can be found by
visiting http://corporate.walmart.com, on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
About Asda, a wholly owned subsidiary of Walmart
Asda is a UK retailer founded in 1949 serving around 19 million
customers a week and currently employs more than 146,000 people
across the UK. It has a multi-format, omni-channel offering,
selling its products through a network of 584 grocery stores, 18
standalone petrol filling stations and 33 Asda Living stores and
also online. In addition to grocery and general merchandise, Asda
also operates George, a leading UK clothing retailer with both an
in-store and online offering. The company has a significant
property portfolio, of which 75 percent of the square footage is
freehold.
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