Sainsbury's share price plummets 14% as CMA threatens to block merger

Lloyds share rise on results

Tom Eckett
clock
Sainsbury's announced its plans to merge with Asda in April 2018
Image:

Sainsbury's announced its plans to merge with Asda in April 2018

Sainsbury's share price collapsed in morning trading on Wednesday after the Competition and Markets Authority (CMA) warned the proposed merger with Asda would create "extensive" competition concerns.

In a release on Wednesday morning, the CMA said these competition concerns could be felt at both a national and local level throughout the whole of the UK. Furthermore, the proposed merger could result...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

Biotech funding 'off the charts'

Biotech and healthcare investors hope for rebound following weak 2021

Targeting long-term structural changes

clock 21 January 2022 • 5 min read
The pandemic has acted as a catalyst for biotech and health industries

Covid catalyses investment in biotech with 2022 set to be 'breakout' year

Tremendous potential, particularly in the spatial biology sector

clock 21 January 2022 • 4 min read
Market Movers Blog: Netflix stock price tumbles by 20%

Market Movers Blog: Netflix stock price tumbles by 20% on low subscriber projections

Latest news and analysis

Investment Week
clock 21 January 2022 • 1 min read
Trustpilot