Walmart, the world’s largest retailer, is in talks to merge with Asda, the UK’s third largest supermarket chain. The move would create a retail giant with over £1 trillion in sales and a network of over 11,000 stores.
The two companies have been in talks for several months, and a deal could be announced as early as next week. If the merger goes ahead, it would be the biggest retail deal in history.
Walmart is the world’s largest company by revenue, with sales of $485 billion last year. Asda is the UK’s third largest supermarket chain, with sales of £22 billion.
The two companies have a long history – Walmart acquired Asda in 1999 for £6.7 billion.
A merger would create a retail behemoth with 11,000 stores and over £1 trillion in sales. The combined company would have a significant presence in both the US and UK markets.
The two companies are complementary – Walmart is strong in groceries, while Asda is strong in general merchandise. A merger would give Walmart a much needed boost in the UK market, where it has struggled to compete against the likes of Tesco and Sainsbury’s.
Did Walmart merge with Asda?
No official announcement has been made yet, but sources close to the matter say that an announcement could be made as early as next week.
