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Sainsbury’s to Merge with Asda

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The U.K. supermarket landscape is poised for a shakeup. On Monday, Sainsbury’s announced plans to merge with Asda, a wholly owned subsidiary of Walmart. Under the proposed deal, Walmart would control 42 percent and receive 2.97 billion pounds ($4.1 billion), which values Asda at 7.3 billion pounds ($10 billion). Walmart is also expected to receive…

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