A UK court has ruled that the country’s competition regulator treated Sainsbury’s and Asda unfairly in not allowing the supermarket groups more time to respond to evidence submitted as part of a probe of their deal.
British group Sainsbury’s proposed takeover of rival Asda would not be cleared by the competition regulator without the need for “extensive remedies” if precedent is followed, according to market leader Tesco.
Sainsbury’s opened a giant superstore near Birmingham on Wednesday but it was more than just a new branch opening with the concept featuring department store elements, as well as its regular supermarket offer.
Sainsbury’s would challenge in the courts any unfavourable ruling by the regulator on its agreed takeover of rival Asda if it believed it was not backed up by published evidence, its boss said on Thursday.
British supermarket Asda , which is subject to a proposed takeover by rival Sainsbury's , is to start consulting with staff over the potential loss of up to 2,500 jobs next year, according to reports on Friday.