U.K. Competition Regulator to Investigate Tesco's Booker Acquisition
30 Mai 2017 - 2:00PM
Dow Jones News
By Tapan Panchal
LONDON--The U.K. competition regulator has decided to
investigate Tesco PLC's (TSCO.LN) proposed 3.7 billion pounds
($4.75 billion) cash and stock deal to acquire food wholesaler
Booker Group PLC (BOK.LN).
The Competition and Markets Authority said Tuesday the first
phase of its investigation into the consequences for competition in
the sector would run until July 25.
Tesco agreed in January to buy Booker for 3.7 billion pounds
($4.76 billion), a deal which combines the U.K.'s largest retailer
with the country's largest food wholesaler, a surprise move that
could bring hefty cost savings for the supermarket operator.
The CMA investigation follows Tesco's formal notification to the
regulator of the Booker transaction.
At 1116 GMT, Tesco shares were trading 1.1% lower at 185 pence
each. Booker shares trading 1.1% lower at 201 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
May 30, 2017 07:45 ET (11:45 GMT)
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