Shares in J Sainsbury fell by more than 7% yesterday amid growing concerns that its £12bn merger with Asda could be scuppered by regulators.
Sainsbury’s and Asda have had to resort to legal action to try to buy more time as the two companies struggle to cope with demands from the Competition and Markets Authority.
In a move raising serious concerns about whether the merger between Britain’s second and third largest supermarkets will succeed, the pair are appealing against the regulator’s decision to deny their request for an 11-day extension. They had asked for an extension to “respond to a large amount of material recently provided to us”.
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