April 25, 2019 / 6:11 AM / 3 months ago

UK regulator blocks Sainsbury's-Asda merger

LONDON, April 25 (Reuters) - Britain's competition regulator has blocked Sainsbury's proposed 7.3 billion pound ($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. (Reporting by James Davey, Editing by Paul Sandle)

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