WalMart’s UK supermarket branch, Asda, is reportedly looking to take over discount retailer B&M European Value Retail for GB£4.4 billion (US$5.7 billion).
The Sunday Times has reported that Asda is in the beginning stages of assessing a bid and has commissioned research on B&M.
Of the UK’s 4 major supermarkets (Morrisons, Tesco, Asda and Sainsbury’s), the appearance of German based discount stores Aldi and Lidl have affected Asda the most. The chain has reported 11 straight quarters of declining sales.
This is the second significant merger in the UK retail market, with Tesco’s purchase of wholesaler Booker currently being reviewed.
Full Content: Reuters
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