CEO caught singing 'We're in the Money' as Walmart deal lifts sh

Mike Coupe chief executive officer of J Sainsbury Plc seen in a supermarket in Redhill

Mike Coupe chief executive officer of J Sainsbury Plc seen in a supermarket in Redhill

Coupe owned 1.14 million shares in Sainsbury's as of May 2017, according to the company's most recent annual report.

Asda achieves almost two-thirds of its sales outside London and the south east of England in contrast to Sainsbury's, which registers 59% of its sales in those two areas.

GMB, the trade union which represents a majority of Asda workers, was critical of the CEO on Twitter, posting: "What on earth will ASDA workers who are worrying about their futures tonight think of this? Morrisons is very strong in its Northern heartland". Therefore, the merger seems like a very good opportunity for both retailers, both here in Northern Ireland and in the rest of the UK. In particular it is concerning for towns, such as Flint, where we have both an Asda and a Sainsbury's right next door to each other.

Alex Saunders, solicitor at Norwich firm Leathes Prior, said while the CMA had several powers, including ordering the two businesses to run separately and issuing fines, it was most likely it would order a disposal of stores where they adversely affected competition.

"The CMA has only started its investigation and I will continue to keep up pressure to ensure that we see no job losses".

Pochettino praises Tottenham stalwart after Watford win - 'Real quality'
Fifth-placed Chelsea had whittled down a 10-point deficit to just two but Spurs took that back to five with three games remaining. I think Jose Mourinho would want him at Manchester United , I think Real Madrid would want him, I think Barcelona would want him.

The two supermarket groups source between £250 million to £300 million from suppliers and producers in the North and South each year. Sainsbury's slashed 2,000 positions in October. The newly-formed retail supergroup will most definitely have better purchasing power and stronger buying muscle than ever before, and they will nearly certainly be looking to realise price benefits in the supply chain.

However, the surprise decision by the CMA to unconditionally clear the Tesco/Booker deal may have encouraged Sainsbury's and Asda to believe they could get a viable transaction through. Based on past experiences here, I have my doubts about this price promise.

From left, Mike Coupe, chief executive of J Sainsbury, Judith McKenna, president and chief executive of Walmart International and Roger Burnley, president and chief executive of Asda.

"This is a cost play which will impact jobs in warehousing, distribution, stores, headquarters and suppliers". Nothing is ever quite what it seems - even in the retail world.

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