Sainsbury (J) Merger - Willu Invest


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    Sainsbury (J) Merger

    Walmart Inc. on Monday said it would sell its British arm Asda Group Ltd. to rival J Sainsbury PLC, a deal that values the chain at about $7.3bln and, if successful, would create the U.K.’s largest grocer.
    Walmart will hold a 42% stake in the combined company and get almost GBP3 billion in cash.
    For the year to March 10, Sainsbury reported profit fell 18% to GBP309 million weighed down by one-time costs although underlying pretax profit climbed 1.4%.

    As of 8.33am the stock was trading up 17.3% at 317p

    52 week range: 224.8p – 281.7p

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