Statement re Proposed Merger

RNS Number : 1772K

Sainsbury(J) PLC

12 December 2018

 

 

J Sainsbury plc

12 December 2018

This announcement contains inside information

Statement re Proposed Merger

J Sainsbury plc and Asda Group Ltd will today lodge an application with the Competition Appeal Tribunal for a Judicial Review of the Competition and Markets Authority (CMA) Phase Two investigation into their proposed merger.

This application requests a review of the timetable and process, reflecting both Parties' view that the current timetable does not give the Parties or the CMA sufficient time to provide and consider all the evidence given the unprecedented scale and complexity of the case.

Both Parties have engaged constructively with the CMA to date and have made repeated requests for additional time. Specifically, we have asked the CMA for an additional 11 working days over the Christmas period to respond to a large amount of material recently provided to us.

We are confident in the merits of the deal and our ability to deliver the synergies. By bringing our two businesses together, we will invest further in range, quality and customer service, while lowering prices and reducing the cost of living for millions of UK households.

For further information please contact:                                              

Investor Relations, J Sainsbury plc

James Collins                                                                                   [phone]

Media Relations, J Sainsbury plc                                                       

Rebecca Reilly                                                                                  [phone]

The information contained within this announcement is inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain. The person responsible for this announcement on behalf of Sainsbury's is Tim Fallowfield, Company Secretary and Corporate Services Director of Sainsbury's.

 

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