Booker sees Tesco takeover next year

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.