UK: Sainsbury settles pension case with Merrill Lynch
UK supermarket group Sainsbury has reached an amicable settlement with Merrill Lynch Investment Managers (MLIM) over the lacklustre performance of its pension fund. The scope of the financial settlement has not been disclosed. After MLIM reached an out-of-court settlement Anglo-Dutch consumer goods giant Unilever believed to be worth £70m (US$107.7m), the odds of Sainsbury heading for the courts increased.
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