Private shareholders in Sainsbury’s berated the board of the British supermarket chain at its annual meeting on Thursday over its failed takeover of rival Asda, as well as a share price slump and what it pays its boss.
Sainsbury's can't seem to catch a break. As some rivals in the UK supermarkets sector start to recover, the company has turned in another sales fall and even its previously resilient fashion offer's sales dropped in Q1.
Walmart, the world's biggest retailer, said it is considering a stock market listing for its British supermarket arm Asda, whose attempt to combine with rival Sainsbury's was blocked by the UK regulator last month.
Britain's competition regulator will publish its final report on supermarket group Sainsbury's takeover of Walmart-owned rival Asda on Thursday, with most analysts seeing little chance of the deal proceeding.
Britain’s competition regulator said on Tuesday it expected to publish its final report on supermarket group Sainsbury’s proposed £7.3 billion takeover of Walmart-owned rival Asda on Thursday, April 25.
Sainsbury's and Asda said they were willing to sell 125-150 stores to get their proposed merger past the regulator - a number well short of what the Competition and Markets Authority (CMA) has said it is looking for.