Sainsbury's insisted that no stores will close as a result of the deal, but said regulatory authorities could force it to offload stores as part of a competition probe.
It's a £7 billion which could create a super-supermarket. Sainsbury is picking up Asda to create a market-leading alliance, according to Wall Street Journal. "We think these 75 stores would be the absolute minimum that the CMA will want disposed of".
Sainsbury's insists that any stores it offloads will be done so as "trading entities", but the future of staff at those outlets - which number anywhere from 7,500 to 10,000 - will depend on whether a buyer is found and if the shops are then kept trading.
Sainsbury's said the merger would generate synergies of at least 500 million pounds and enable prices to be lowered by about 10 percent on many products.
Although the two brands will remain seperate, Sainsbury's hopes the move will strengthen the group's position in a dynamic market by allowing it combine Asda's low-priced groceries and the George clothing brand with Sainsbury's traditionally higher end products and catalogue retailer Argos (which the chain purchased in 2016).
If approved by the regulator, the deal is expected to complete in the second half of 2019.
The source described the planned deal - which would consolidate a brutally competitive United Kingdom food market while helping Walmart address its underperforming United Kingdom arm through greater buying power - as a "merger".
Sainsbury's is valued at around £5.9 billion. "It's a proud Yorkshire business and I'm a proud Yorkshire man so Asda, I'm delighted to say, will remain in Yorkshire with its headquarters in Yorkshire because this proposal is about a twin brand strategy with Asda and Sainsbury's remaining very much separate brands".
Walmart, which bought Asda in 1999 for 6.7 billion pounds, said it would focus on online sales in countries with higher growth and less intense competition.
The Forum of Private Business (FPB) has called on Sainsbury's to provide assurances to its supply chain, as the supermarket chain announces it has agreed terms with Asda to merge the two companies.
"This creates a great deal for customers, colleagues, suppliers and shareholders and I am excited about the opportunities ahead and what we can achieve together".
"Asda became part of Walmart almost 20 years ago, and it is a great business and an important part of our portfolio, acting as a source of best practices, new ideas and talent for Walmart businesses around the world".
Sainsbury's also reported its full-year results, showing a first rise in profit in four years and expressed confidence in meeting analysts' profit forecasts for 2018-19.
Alfie's parents took to Facebook to announce their sons passing, saying: "Our baby boy grew his wings tonight at 2:30 am". I use the term wrong decision loosely, as it is the only reasonable decision offered thus far, and yet the most shunned.
In this photo, opposition leader Nikol Pashinian (R) is seen in a meeting with Sargsyan on April 22, urging him to step down. Pashinian has said he is prepared to be a candidate, but it is unclear if he will get support.
Jhanvi Kapoor and Arjun Kapoor have also finalized their song to perform in Sonam Kapoor and Anand Ahuja's marriage. However, in a recent interview, Sonam had remarked that she would prefer to get married at her home.
The investigation found that Russia's "increasingly aggressive cyber operations" would "continue to present a profound threat". The House panel did find that Russian Federation sought to sow discord in the USA through cyberattacks and social media.
Pittsburgh beat Philadelphia in Game 6 without Malkin, who was injured in Game 5 on April 20 and hadn't practiced since. It sounds like Malkin is a possibility to play in Game 2 as he'll be traveling to Washington .
The man wanted in connection with the fatal shooting of a ME deputy has been caught after a four-day manhunt, police said. Williams was put into the backseat of an unmarked state police vehicle with detectives and driven away.
Earlier this year the president tweeted about having a "much bigger" nuclear button than North Korea. Trump's efforts should be recognized by the Nobel committee, but somehow I think he'll be bypassed.
It also announced the plans to extend its controversial China-Pakistan Economic Corridor ( CPEC ) to Afghanistan. Modi and Xi have reviewed that developments in the relationship of the two neighbouring nations.
During the closed-door meeting, Ryan defended his ouster of Chaplain of the House of Representatives Father Patrick J. Peter King, R-N.Y. "And the speaker said it was just because certain people said he was not giving good counsel.
Spider believed to be world's oldest is dead
What makes her story remarkable is that until her death, this trapdoor spider was the oldest known spider in the world. Moreover, she-and trapdoor spiders generally-cannot up and move if their home is destroyed or too badly damaged.
Airstrikes Hit Syrian Military Bases, Israel Suspected
The Syrian army last week launched a wide-scale offensive on areas held by Syrian rebels and Islamic militants south of Damascus. Hezbollah-backed Al Akhbar news reported that the strikes occurred on Syrian bases used by the Iranian Revolutionary Guard.
Why Ravens fans should be excited about Lamar Jackson
Newsome, 62, has been in charge of the Ravens since the franchise arrived in Baltimore from Cleveland following the 1995 season. The Cincinnati Bengals gave some fans the impression that they were considering taking Louisville quarterback Lamar Jackson .
United v Arsenal "made the Premier League"
Both Mourinho and Ferguson had their arguments and differences with Wenger over the years. All of this comes of course, because of Wenger's big announcement just a few weeks ago .
Warriors' Stephen Curry will not play Saturday night
Expectedly, their attack on the Pelicans was unrelenting because they lack the personnel to keep everyone in check. Saturday's game was played at a pace of 105.96 possessions per 48 minutes, according to NBA Advanced Stats.
Israeli army kills 3 Palestinians crossing border fence
Israel says that it is defending its sovereign border, including nearby communities, and that its troops target only instigators. And this, the group says, despite Hussein's reportedly wearing the bright attire clearly marking him a television journalist.
Sabres win Lottery, will select 1st in upcoming NHL Draft
Due to the way the draft lottery works, Vancouver would've either been pulled to pick ninth, eighth, seventh, or in the top three. The Carolina Hurricanes will pick second and the Montreal Canadiens will go third in this summer's draft.
Mizzou's J'Mon Moore drafted by Green Bay
Having already adjusted to Missouri's climate compared to his native Houston, Moore said he won't mind Green Bay's colder weather. Green Bay no doubt needed to pick up a wide receiver in the draft this year after parting ways with Jordy Nelson this offseason.
Stanley Cup Playoffs 2018: Golden Knights vs
The speedy Knights continued to put excellent pressure on the puck, and San Jose didn't have much room (or time ) to operate. They defied regular season expectations, They made the playoffs, and swept the Kings in the first round, Few saw it coming.
Lea Michele is engaged
Michele announced the news in a photo shared to social media Saturday of her handsome (and big) engagement ring. Michele's Instagram followers shared the actress' excitement on the comments section.
Guardiola: Barcelona History Not Possible Without Iniesta
It's the main reason towards understanding that my time here is at an end. "I want to be happy, like I have been here". We're one step away from winning the league, which would complete the double, Then there's the World Cup [with Spain].