
Walmart has put plans to sell a majority stake in UK grocer Asda on hold so the world’s largest brick-and-mortar retailer can focus on managing its business in the wake of a surge in grocery orders created by the coronavirus pandemic, sources said Thursday, April 2.
Asda, Britain’s fourth-largest supermarket, had attracted significant interest from private-equity firms, who were looking at the grocer at a valuation at as much as US$9 billion, CNBC reported.
The coronavirus outbreak has created an extraordinary demand for groceries, as shoppers panic-buy food and household items such as toilet paper.
Walmart plans to hire 150,000 employees to keep up with demand. The retailer had hired nearly 50,000 employees as of late Monday, and it’s been averaging about 5,000 new hires a day, according to Dan Bartlett, Walmart’s executive vice president of corporate affairs.
Full Content: N
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Automakers Challenge Maine’s Right to Repair Law
Feb 12, 2025 by
CPI
Senators Urged to Expedite Gail Slater’s Confirmation as DOJ Antitrust Chief
Feb 11, 2025 by
CPI
Former Michigan Asphalt Executive Pleads Guilty in Bid-Rigging Scheme
Feb 11, 2025 by
CPI
Ballard Spahr Expands Litigation Team with Addition of Antitrust Attorney in Seattle
Feb 11, 2025 by
CPI
Portuguese Court Overturns €225 Million Fine for Banking Collusion Due to Statute of Limitations
Feb 11, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon