|No. of shares out||2,203m|
|No. of shares floating||2,196m|
|No. of employees||52,800|
|Trading volume (10 day avg.)||5.4m|
|Profit before tax||£1,429m|
|Earnings per share||12.72p|
|Cashflow per share||42.80p|
|Cash per share||88.10p|
Sainsbury’s and Asda merger on the rocks
The Sainsbury’s (SBRY) merger with Asda has been put into jeopardy by the Competition and Markets Authority (CMA) and the supermarkets can no longer be sure of a favourable ruling, says Hargreaves Lansdown.
The CMA has raised competition concerns about the deal but left the door open for the supermarkets to sell off assets to complete it, although analyst Laith Khalaf said ‘it’s clearly not keen on that solution’.
‘The supermarkets will now have to bend over backwards if they want to proceed with the merger, and even then, wouldn’t be guaranteed a favourable ruling from the CMA,’ he said.
Khalaf said they would have the extra pressure of finding buyers for the assets sold and if they do sell enough to push the merger through ‘the combined entity may damage competition by being too weak, rather than too strong’.
Sainsbury’s shares slumped 18.6% to 234.5p yesterday.