J Sainsbury and Wal-Mart, the world's largest supermarket retailer, are in advanced talks about a £10bn merger, which would then create the most powerful group, taking it ahead of market leader, Tesco, according to a breaking story exclusvely from Sky News.
The news channel has just stated that the two companies are in negotiations about combining Wal-Mart's Asda business with Sainsbury's, in a deal that would send shockwaves through the entire British retail industry.
It went on to say that sources said an announcement could be made as early as Monday, or even sooner if the two sides are forced to accelerate their public disclosures.
However, Sky concluded that it was unclear this weekend how a deal would be structured, including whether Wal-Mart would reverse Asda into Sainsbury's while taking a major stake in the combined group.