WATCH: CEO Caught Singing 'We're in the Money' on TV Amid Massive Merger

Everyone gets a little bored now and again, but Sainsbury's CEO Mike Coupe probably wishes he had sung a different song while waiting for an interview with ITV to begin Monday. Amid news that the U.K.-based grocery chain had agreed to a massive merger with Walmart-owned ASDA, Coupe was caught singing "We're in the Money" before the interview began. The song is from the musical 42nd Street.

"We're in the money, the sky is sunny, let's send it, lend it, spend it, rolling along," Coupe is seen singing before taking a sip from a coffee cup.

Coupe said he was simply trying to mentally prepare to go on-air. "This was an unguarded moment trying to compose myself before a TV interview," he said in a statement, according to the Telegraph. "It was an unfortunate choice of song, from the musical '42nd Street,' which I saw last year and I apologize if I have offended anyone."

Amid news of the merger—which Sainsbury claimed would not cause store closures but might result in some locations being sold to other companies—Sainsbury's share prices rose about 15 percent. The grocery chain, meanwhile, said people shouldn't read anything into the song selection.

Via the Telegraph, the company said in a statement:

"Mike was composing himself between interviews. As many of us do, he was singing songs to himself to clear his mind. He recently saw 42nd Street, where this song is from and we all know these songs stay in your head. To attach any wider meaning to this innocent, personal moment is preposterous."

Some suggested the merger could lead to job losses. John Colley, a professor at Warwick Business School, told The Guardian, "Ultimately there has to be job losses and the suppliers will have to pay through lower prices ... customers will see reduced choice."