Sainsbury's to detail price cuts to try to win over watchdog for Asda deal

Sainsbury’s and Walmart’s Asda will provide a more specific commitment to cut prices in response to a negative provisional view by Britain’s competition watchdog of their proposed tie-up, the Financial Times (FT) reported on Monday.

Britain’s Competition and Markets Authority (CMA) dealt a potentially fatal blow to the deal last month, saying its initial view was that the proposed 7.3 billion pound ($9.7 billion) takeover of Asda by Britain’s No. 2 supermarket group would be blocked without the sale of a large number of stores, or even one of the brands.

Britain’s Competition and Markets Authority (CMA) dealt a potentially fatal blow to the deal last month, saying its initial view was that the proposed 7.3 billion pound ($9.7 billion) takeover of Asda by Britain’s No. 2 supermarket group would be blocked without the sale of a large number of stores, or even one of the brands.