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CEO of supermarket chain caught singing 'We're in the money' after $10 billion deal with Walmart

Business Insider logo Business Insider 5/1/2018 Dennis Green
Sainsbury's CEO Mike Coupe© Provided by Business Insider Sainsbury's CEO Mike Coupe

Sainsbury's CEO Mike Coupe might've chosen a different song to sing between TV interviews if he wanted to avoid scrutiny.

The UK supermarket CEO was caught on camera by British broadcaster ITV singing a popular show tune, "We're in the money," from the musical "42nd Street." The ensuing interview was about how his company had just entered into an agreement to merge with a competing grocery chain, the Walmart-owned Asda.

Walmart would get a 42% share of ownership in the combined company and a payment of over $4 billion in cash. Sainsbury's said the $10 billion deal would save the company almost $700 million a year, and its shares rose after the news of the merger hit.

Coupe released a statement of apology for his song choice.

"This was an unguarded moment trying to compose myself before a TV interview," he said to ITV. "It was an unfortunate choice of song, from the musical 42nd Street which I saw last year and I apologise if I have offended anyone."

The song's timing left some wondering whether it was chosen purposely. A spokesperson for Sainsbury's told the Guardian that "to attach any wider meaning to this innocent, personal moment is preposterous."

To watch the entire moment, see below.


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