1st May 2018 06:55
LONDON (Alliance News) - J Sainsbury PLC shareholders have backed the grocer's proposed merger with Walmart Inc-owned Asda, The Times reported on Tuesday.
Among those backing the deal is the company's largest shareholder the Qatar Investment Authority, the newspaper said.
The Times added while some of Sainsbury's share price rise on Monday can be explained by hedge funds seeking to cover their bets on the company's stocks falling, it was also the result of a positive reaction from existing longer-term shareholders.
https://www.thetimes.co.uk/edition/business/sainsbury-s-shareholders-back-merger-with-asda-m3m9mt3mx
The Qatar Holdings LLC holds a 21.99% stake in Sainsbury's, according to the grocer's website.
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