Sainsbury’s and Asda in shock merger talks
Sainsbury's and Asda J Sainsbury and Wal-Mart, the world's biggest supermarket retailer, are in advanced talks about a shock tie-up that would create a more powerful rival to Tesco, the UK market leader.
Sky News can exclusively reveal that the two companies are in negotiations about combining Wal-Mart's Asda business with Sainsbury's, in a deal that would send shockwaves through the entire British retail industry.
Sources said an announcement could be made as early as Monday, or even sooner if the two sides are forced to accelerate their public disclosures.
It was unclear this weekend how a deal would be structured, including whether Wal-Mart would reverse Asda into Sainsbury's while taking a big stake in the combined group.
Another huge uncertainty surrounding ...