Fallout for Sainsbury’s as €8.4bn Asda deal is blocked

Britain’s competition regulator has blocked Sainsbury’s proposed £7.3bn (€8.4bn) takeover of Walmart-owned Asda — a huge blow to the supermarket groups who wanted to combine to overtake market leader Tesco.

The implications of the deal failing are likely to be significant. Some analysts believe Sainsbury’s will have to undergo a major shake-up that could see new chairman Martin Scicluna part company with chief executive Mike Coupe.