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Sainsbury's, Walmart And Asda Mutually Agree To Terminate Proposed Merger

J Sainsbury plc (JSAIY.PK,SBRY.L) said Thursday that the company, Walmart Inc. (WMT) and Asda Group Limited have mutually agreed to terminate the proposed merger between supermarket chain Sainsbury's Supermarkets Ltd. and Asda.

The decision by the companies came after the UK's Competition and Markets Authority or CMA today published its Final Report on the proposed merger, resulting in prohibition of the merger.

"The CMA's conclusion that we would increase prices post-merger ignores the dynamic and highly competitive nature of the UK grocery market. The CMA is today effectively taking £1 billion out of customers' pockets," Sainsbury's CEO Mike Coupe said.

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