UK DIY News
Asda eyes up B&M for possible takeover
According to the Sunday Times, Asda could be considering a takeover bid for discount retailer B&M Retail.
Having experienced 11 consecutive quarters of declining sales, Walmart owned Asda could be the latest grocer to expand it's non-food offering through a high profile acquisition.
The Sunday Times reported that the supermarket had commissioned a piece of external research on B&M with the possibility of issuing a takeover bid for the discounter, valuing it in the region of £4.4 billion.
B&M currently has an estate of 543 UK stores and 75 in Germany. Only last week B&M Retail revealed it's latest results, an 18.3% increase in sales to £656 million the best Q1 in 3 years
Read - B&M delivers another strong quarter.
Despite the speculation, the Telegraph have reported that senior Asda staff have dismissed the claims, stating that its owner Walmart was in charge of takeovers.
Source: Insight DIY Team
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