The near-killing of the Asda-Sainsbury’s merger sent shockwaves in the grocery industry

The American private equity giant that owns ticketing app Trainline is plotting a bid for Asda as the supermarket’s £14bn merger with rival Sainsbury’s teeters on the brink of collapse.

KKR, whose past investments include chemist chain Alliance Boots, is thought to be working with Tony De Nunzio. The former Asda boss, now a senior adviser to the buyout firm, would become chairman were KKR to strike a deal.

The Competition & Markets Authority (CMA) sent shockwaves through the grocery industry last week when it indicated that Sainsbury’s and Asda, the second- and third-biggest supermarkets, would have to sell more than 300 stores to a single buyer for the merger to stand a chance of being approved— a tough stance seen as likely to kill