Sainsbury's share price has soared over 20% in morning trading after it confirmed it has agreed terms with Walmart to merge with subsidiary Asda, a move which will be significant for BlackRock and Invesco who are two of Sainsbury's top five investors.
The move will combine the second and third largest supermarkets in the UK bringing together a total of 2,800 stores and representing 31% of the market, more than market leader Tesco, which has 27.6%. ...
Four potential outcomes
Industry members abseil down Broadgate Tower
Changes made on 14 September
Hired as portfolio manager in global equity income team
'Three cycles are colliding'