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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Wm Morrison Supermarkets    MRW   GB0006043169

WM MORRISON SUPERMARKETS

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Competition regulator extends review deadline for Sainsbury's-Asda deal

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02/11/2019 | 10:45am EDT
Shopping bags from Asda and Sainsbury's are seen in Manchester.

LONDON (Reuters) - Britain's competition regulator has extended the review period for Sainsbury's proposed £7.3 billion takeover of rival supermarket group Asda by eight weeks to give it more time to consider evidence recently provided to them.

The Competition and Markets Authority (CMA) regulator had been due to publish its provisional findings on the deal by early February and its final report in early March. The provisional findings will now come at some point in February, with a final report due on April 30.

The deal, agreed in April 2018, between second-ranked Sainsbury's and the British arm of Walmart, the number three player, could see the combined group vault Tesco as market leader.

The regulator said it needed more time to consider the deal due to the "scope and complexity" of the takeover and the need to consider the responses by the two main parties and other submissions.

The CMA has said its first priority was assessing if customers would face higher prices or a lower quality of service.

Tesco has said the deal should not be cleared without "extensive remedies", and number four Morrisons has raised concerns about an "effective duopoly" - Tesco and Sainsbury's-Asda - controlling more than 60 percent of the market.

Sainsbury's Chief Executive Mike Coupe has said that the company would challenge in the courts any unfavourable final ruling by the CMA on the deal if it believed it was not backed up by published evidence.

(Reporting by Kate Holton, editing by Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
J SAINSBURY PLC 0.40% 200.4 Delayed Quote.-24.38%
TESCO -0.78% 240.2 Delayed Quote.26.35%
WALMART INC. 0.33% 114.98 Delayed Quote.23.44%
WM MORRISON SUPERMARKETS 1.07% 207.9 Delayed Quote.-2.51%
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Financials (GBP)
Sales 2020 18 225 M
EBIT 2020 490 M
Net income 2020 330 M
Debt 2020 967 M
Yield 2020 4,65%
P/E ratio 2020 15,1x
P/E ratio 2021 14,1x
EV / Sales2020 0,33x
EV / Sales2021 0,31x
Capitalization 4 956 M
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Technical analysis trends WM MORRISON SUPERMARKETS
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Mean consensus HOLD
Number of Analysts 20
Average target price 2,38  GBP
Last Close Price 2,08  GBP
Spread / Highest target 39,5%
Spread / Average Target 14,4%
Spread / Lowest Target -8,61%
EPS Revisions
Managers
NameTitle
David T. Potts Chief Executive Officer
Andrew Thomas Higginson Non-Executive Chairman
Trevor John Strain Director, Chief Financial & Commercial Officer
Belinda Jane Carew-Jones Independent Non-Executive Director
Richard Colin Neil Davidson Independent Non-Executive Director
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SEVEN & I HOLDINGS CO., LTD.-19.10%31 058
WOOLWORTHS GROUP LTD16.35%30 085
TESCO27.35%29 487
CP ALL PUBLIC COMPANY LIMITED--.--%25 595