Tesco Merger With Booker Group Cleared by U.K. Regulator
December 20 2017 - 1:57AM
Dow Jones News
By Dimitrios Kontos
Tesco PLC (TSCO.LN) said Wednesday that the U.K.'s Competition
and Markets Authority has given its final clearance to the
retailer's merger with wholesaler Booker Group PLC (BOK.LN).
The company said that it expects respective shareholder meetings
to take place towards the end of February 2018, and the deal to be
completed in March 2018.
In a separate statement, the Competition and Markets Authority
said that it had reviewed the deal in depth and concluded that
since Booker does not own the stores it supplies, the wholesaler
cannot directly determine how they compete with Tesco.
Tesco operates more than 3,000 stores across the U.K. while
Booker supplies services to more than 5,000 stores as well as to
thousands of independent retailers and caterers.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
December 20, 2017 02:42 ET (07:42 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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