Sainsbury’s faces a hit of about £50m after the competition regulator blocked its £12bn merger with rival supermarket Asda over fears that the deal would lead to price rises.
The FTSE 100 grocer, which is led by Mike Coupe, has spent millions in fees to bankers and lawyers for their work on the proposed tie-up.
Britain’s second and third biggest supermarkets were forced to abandon the merger yesterday after the Competition and Markets Authority said it had no choice but to block the deal.
