UK regulator OKs Tesco takeover of Booker
BRITAIN’S competition regulator has given the green light to supermarket giant Tesco’s £3.7 billion takeover of wholesaler Booker, it said yesterday. The takeover, worth $4.8 billion, or €4.2 billion, has been provisionally cleared by the Competition and Markets Authority (CMA), it announced in a statement. Tesco unveiled the blockbuster deal in January in a bid to become the nation’s top food business, slash costs and take on German-owned discount retailers. The regulator ruled yesterday that the pair do not compete head-to-head in most of their activities.