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Sainsbury’s buys Walmart’s Asda for $10B

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Sainsbury's agreed to pay $10 billion to purchase Walmart's Asda.

Together, Sainsbury's and Asda have 2,800 stores. It would combine the second- and third-largest supermarket groups in the United Kingdom.

Sainsbury's CEO Mike Coupe will keep the same position in the combined company.

Read more from Reuters.

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