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Shareholders give the green light to Tesco's £3.7bn Booker takeover

Mar 01, 2018 - City A.M.

BOOKER Group's shareholders yesterday backed Tesco's £3.7bn bid for the wholesaler, giving Tesco boss Dave Lewis the green light to create the UK's largest food group.

Eighty-three per cent of Booker investors approved the deal; Booker needed the backing of 75 per cent of votes for the merger to go ahead.

Tesco's shareholders overwhelmingly supported the deal in a separate vote, sending shares in both Booker and Tesco upwards. Tesco's share price rose 1.8 per cent to 210.8p, while B...