Sainsbury’s confirms Asda merger talks

UK: Sainsbury’s has confirmed that it is in talks with Walmart regarding a merger with Asda.

J Sainsbury plc has admitted to being in “advanced discussions” and promised a further announcement on Monday morning.

If the deal goes ahead, a combined group would comprise over 2,000 stores and claim 31.4% market share, compared with Tesco’s 27.6%.