Update: Sainsbury's shares near 25-year low after CMA blocks Asda merger
Sainsbury's now laggard of the sector
Sainsbury's and Asda announced plans to merge last year
Sainsbury's shares were on track for their lowest point since 1989, after the Competition and Markets Authority (CMA) blocked its proposed £7.3bn merger with Asda.
Down nearly 5%, the shares are trading at 216p as of 10.34am GMT, close to their lowest level in 25 years. The shares reached a high of £6 back in 2007, but have struggled since then. The competition...
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