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Fortune reports that Judith McKenna, the CEO of Walmart International, is saying that in the wake of UK regulators’ decision to block the acquisition by Sainsbury of Walmart-owned Asda Group, it is time to get over it and move on.

According to the story, McKenna told the meeting of the World Retail Congress in Amsterdam that merging the two companies “was a bold move. We genuinely believed that creating this combination from a unique, one-off opportunity would have allowed us to accelerate lowering prices for all our customers.”

But, “now that the deal is dead, Asda will focus on making ‘sure it has resources going forward to make sure it’s successful,’ McKenna said.

The story notes that UK regulators believed “the transaction would have led to a substantial reduction of competition at both a national and local level, resulting in higher prices in stores, online, and at fuel service stations.” Fortune points out that Asda may indeed be able to survive on its own: “Asda has had seven consecutive quarters of growth and leapfrogged Sainsbury’s in April to become the second-biggest U.K. supermarket operator behind Tesco, according to data from Kantar.”
KC's View:
The betting seemed to be that Walmart would look for another buyer … but it may be that there aren’t a ton of companies out there likely to be in the market. So it only makes sense to keep trying to improve Asda’s performance, if only because that’ll increase the purchase price if a buyer can be identified.