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Sainsbury's said it will retain both the Sainsbury's and Asda brands, and it has no plans to close stores.

The deal is expected to result in cost savings of at least 500 million pounds, and Coupe said he expects to lower retail prices by as much as 10 percent. unit, Asda, for 7.3 billion pounds (.1 billion) in cash and stock in a deal that would create Britain's largest supermarket chain and marks a profound shift in the country's grocery market.

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In this file photo dated Wednesday, June 17, 2009, a branch of Sainsbury's supermarket is seen in Selsdon, south London.

S.) in cash and stock in a deal that would create Britain's largest supermarket chain, but the deal is expected to be subject to review by Britain's Competition and Markets Authority.

workers to $11 an hour, giving a one-time $1,000 cash bonus to eligible employees and expanding its maternity and parental leave benefits. 11, 2018, changes to its compensation and benefits policy will impact more than a million hourly workers in the U. (AP Photo/Elise Amendola, File) NEW YORK (AP) -- Walmart confirmed Thursday that it is closing dozens of Sam's Club warehouse stores across the country -- a move that seems sure to cost jobs -- on the same day it announced that it was boosting its starting salary for U. workers and handing out one-time bonuses to others.

He said it was too early to say how many people would lose their jobs since some will be placed at other Walmart locations or be rehired to the e-commerce sites.

The merger risks "squeezing what little competition there is in the groceries market even further," Long-Bailey told the BBC on Saturday when the news of a possible deal first emerged. unit, Asda, for 7.3 billion pounds ($10.1 billion) in cash and stock in a deal that would create Britain's largest supermarket chain and marks a profound shift in the country's grocery market. unit, Asda, for 7.3 billion pounds ($10.1 billion) in cash and stock in a deal that would create Britain's largest supermarket chain and marks a profound shift in the country's grocery market. unit, Asda, for 7.3 billion pounds ($10.1 billion) in cash and stock in a deal that would create Britain's largest supermarket chain and marks a profound shift in the country's grocery market.

Rain covers a Sainsbury's Local sign outside a store in London, Monday, April 30, 2018. (AP Photo/Matt Dunham) An exterior view of a Sainsbury's Local in London, Monday, April 30, 2018. (AP Photo/Matt Dunham) People walk past a Sainsbury's Local in London, Monday, April 30, 2018.

An exterior view of a Sainsbury's Local in London, Monday, April 30, 2018. (AP Photo/Matt Dunham) The combined company will be "designed for a new era" of retailing, bringing scale in clothing and general merchandise, Coupe said.

Britain's Competition and Markets Authority said it will "likely" assess whether the deal could reduce competition and choice for shoppers.

(AP Photo/Tom Hevezi, FILE) Walmart has agreed to sell its British unit, Asda, to local rival Sainsbury's in a 7.3 billion pound (.1 billion) deal as the U. giant focuses on online sales in countries with higher growth and less intense competition. 3 supermarket chains, with a total 31.4 percent share of the market that would put it ahead of the current leader, Tesco, according to data from Kantar Worldpanel.

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