Booker sees Tesco takeover next year

New Straits Times - - Business -

LON­DON: Booker, the Bri­tish whole­saler that has agreed a US$4.8 bil­lion (RM20.77 bil­lion) takeover by Tesco, said it still ex­pected the deal to com­plete by early next year as it re­ported a 15 per cent rise in an­nual profit. The two sides an­nounced the com­bi­na­tion in Jan­uary and al­though both firms are cur­rently en­gag­ing with Bri­tain’s Com­pe­ti­tion and Mar­kets Author­ity, the reg­u­la­tor is yet to con­firm the start of a Phase 1 in­ves­ti­ga­tion. Booker made a pre-tax profit of £174 mil­lion in the year to March 24.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.