Sainsbury's, Asda Win Appeal Against Timetable for Review Into Merger

By Adam Clark

J Sainsbury PLC (SBRY.LN) and rival U.K. supermarket chain Asda have won an appeal against the proposed timetable for the competition review into their planned merger.

Sainsbury's said Friday that the Competition Appeal Tribunal ruled in the grocers' favor and found the timetable for responding to materials and attending a hearing were both unfair. Sainsbury's said it looks forward to re-engaging with the U.K.'s Competition and Markets Authority.

On Wednesday, Sainsbury's said both supermarket chains had made repeated requests for additional time, specifically asking for an additional 11 working days over the Christmas period to respond to material recently provided by the country's competition watchdog.

On April 30, U.S. retailer Walmart Inc. (WMT) said it would sell its U.K. arm, Asda, to rival Sainsbury's. If the merger is approved, it will create the largest supermarket group in Britain.

The deal is currently under the scrutiny of British regulators as the CMA in September referred the case for an in-depth investigation.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

December 14, 2018 13:07 ET (18:07 GMT)

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