Sainsbury(J) PLC Statement re Proposed Merger
December 12 2018 - 2:30AM
Dow Jones News
TIDMSBRY
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 +44 (0) 7801 813074
Media Relations, J Sainsbury plc
Rebecca Reilly +44 (0) 20 7695 7295
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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December 12, 2018 02:15 ET (07:15 GMT)
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