Britain's competition regulator has blocked Sainsbury's proposed £7.3 billion ($9.4 billion) takeover of Walmart owned Asda - a huge blow to the supermarket groups who wanted to combine to overtake market leader Tesco.
The Competition and Markets Authority (CMA) said in its final report on Thursday that the deal would lead to increased prices in stores, online and at many petrol stations across the UK.
Sainsbury's, Walmart and Asda said they had mutually agreed to terminate the transaction.
News by Reuters, edited by Donna Ahern Checkout. Click subscribe to sign up for the Checkout print edition.
ADVERTISEMENT
