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CMA Drafts Order Blocking Sainsbury's-Asda Deal

Law360 (May 23, 2019, 7:26 PM EDT) -- The U.K.'s competition watchdog announced Thursday it plans to officially make a draft order blocking Sainsbury's planned £7.3 billion ($9.24 billion) acquisition of Walmart Inc. unit Asda, and is inviting comments on the draft until June 24.

The Competition and Markets Authority had decided to block the proposed merger in April, finding that Asda and Sainsbury's are two of the country's top supermarkets, and therefore a combination of the two could bring about "price rises, reductions in the quality and range of products available, or a poorer overall shopping experience."

The companies announced in April 2018 that they planned to merge...

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