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 in "higher prices, reduced quality and choice, and a poorer overall shopping experience across the UK". It added these concerns would be difficult for the two companies to address; the final report is set to be issued by 30 April. On the news, Sainsbury's share price dropped 14% to 247.5p, while Morrison's was down 4.6% to 229p on concerns further mergers will be thwarted. Sainsbu...
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