Sainsbury’s falls as it applies for more time on ASDA deal

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Sainsbury’s falls as it applies for more time on ASDA deal
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The price of shares in supermarket group Sainsburys (LON:SBRY) dropped by 4.96% to 281.70p (as of 13:15 GMT) after the company said it would be lodging an application for judicial review of the Competition and Markets Authority investigation into its merger with Asda.

Both parties have requested additional time, since they feel that the current timeline does not allow enough time to properly handle the complexities of the case. In the first instance, they have requested an additional 11 working days over the Christmas period to process the large volume of information that has recently been made available.

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