Sainsbury's shares surge 20% after agreeing Asda merger - business live

Sainsbury's promises price cuts of up to 10% after hammering out a merger to buy Asda for over £7bn Latest: Sainsbury's shares rocket Introduction: Deal agreed between Sainsbury and Asda Companies promise price cuts, and no store closures Will regulators accept it? 8.40am BST Spare a thought for the food suppliers here. #PremierFoods, #Greencore, #Cranswick and #DairyCrest shares all down this morning. #sainsburys #asda 8.35am BST This deal will lead to job cuts and a painful squeeze on supplie...