After failed Sainsbury mega-merger, Walmart ‘seriously considering’ Asda stock market flotation

Walmart is exploring the possibility of exiting from Asda after the CMA blocked its merger with fellow big four grocer Sainsbury’s.  The brand is “seriously considering” a stock market flotation for Asda that is likely to value the business at more than £7bn.

Judith McKenna, the chief executive of Walmart’s international businesses, told Asda staff on Tuesday: “While we are not rushing into anything, I want you to know that we are seriously considering a path to an initial public offering [IPO] – a public listing – to strengthen your long-term success.”

Asda had been reported to be considering a takeover of B&M in 2017.