Asda believed to be considering £4.4bn takeover bid for discount retailer B&M

Asda is believed to be considering a £4.4bn takeover bid for discount retailer B&M, a move which would make it the latest grocer to look beyond the traditional food and drink space.

Britain’s third biggest supermarket is reportedly in the early stages of assessing a bid for B&M, the bargain houseware chain run by billionaire siblings Simon and Bobby Arora.

Asda could not be reached by the Mail while B&M declined to comment.

UK supermarkets have been forced to move out of their traditional market in the face of constantly growing competition from German discount rivals Lidl and Aldi.