JSAIY J Sainsbury Plc (QX)

By Adam Clark

The U.K.'s Competition and Markets Authority said Monday that it has extended the timetable of its inquiry into the proposed merger of J Sainsbury PLC (SBRY.LN) and Asda due to the case's scope and complexity.

The regulator said the deadline for its report on the deal has been pushed back to April 30 from March 5. The CMA's provisional findings on the deal are still expected in February.

"It is necessary to allow sufficient time to take full and proper account of comments that will be received in response to the inquiry group's provisional findings and to reach a fully reasoned final decision in the statutory timeframe," the CMA said.

Last April, U.S. retailer Walmart Inc. (WMT) said it would sell Asda to Sainsbury's for 7.3 billion pounds ($9.4 billion) in cash-and-shares.

If the merger is approved, it will create the largest supermarket group in Britain.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

February 11, 2019 10:17 ET (15:17 GMT)

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