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Michael Barker

BY MICHAEL BARKER

@michaelbarker

Shareholders approve Tesco-Booker deal

Over 80 per cent of shareholders from both sides back plans for tie-up between supermarket and wholesaler

Shareholders approve Tesco-Booker deal

Tesco's Charles Wilson and Dave Lewis

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The merger of Tesco and Booker is set to go ahead after shareholders of the two companies voted overwhelmingly in favour.

Some 85.2 per cent of Tesco shareholders backed the tie-up, with 14.8 per cent against. And at a crunch meeting later in the day, Booker shareholders gave the deal the green light, with 83 per cent in favour.

With the Competition & Markets Authority having cleared the merger in December, the deal is now expected to go ahead on 5 March.

Earlier this month Tesco also announced that Booker boss Charles Wilson will take over as its chief executive for retail and wholesale operations for the UK and Ireland. 

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