Over the final hurdle: Tesco’s takeover of Booker receives the thumbs-up from both companies’ shareholders

The Booker and Tesco merger is offically on now that the £3.7bn deal has received shareholder assent.

Shareholders of both companies today (February 28) voted in favour of the merger of the companies, according to a provisional voting announcements.

At a general meeting of Tesco investors, 85.22% of votes cast approved the deal, which was agreed in January 2017. The supermarket giant required the support of 50% of votes cast.

Meanwhile, at a meeting of Booker stockholders, 83.4% of votes cast approved the merger – the wholesaler required the support of 75% of votes cast for the deal to proceed.

The deal, which is being implemented through a court-sanctioned scheme of arrangement, is now expected to complete next week (March 5).

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