Mar 28, 2017

Tesco shareholders highlight risks on Booker deal

Tesco said on Monday night that the "Compelling" deal had taken a year to put together, and would "Unlock more synergies than Booker's operating profit for the 2016 financial year". In its attempt to acquire Booker, Tesco has offered a 12 per cent premium to a share price that, before the deal was announced, had doubled since 2012, as the company's net income rose. By voicing their doubts in public, Mr Kirrage and Mr O'Keefe believe they will encourage other Tesco investors to join the rebellion and block the deal. "There has already been a battle fought inside the boardroom before investors even found out," he says, referring to the departure of a senior Tesco director in January. News: Tesco shareholders come out against Booker takeoverLex: Booker valueLombard: Tesco may need a better way with words to land Booker prizeAnalysis: Tesco looks to tighten grip on British food with Booker buy.

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