Tesco Merger With Booker Group Cleared by U.K. Regulator

By Dimitrios KontosFeaturesDow Jones Newswires

Tesco PLC (TSCO.LN) said Wednesday that the U.K.'s Competition and Markets Authority has given its final clearance to the retailer's merger with wholesaler Booker Group PLC (BOK.LN).

The company said that it expects respective shareholder meetings to take place towards the end of February 2018, and the deal to be completed in March 2018.

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In a separate statement, the Competition and Markets Authority said that it had reviewed the deal in depth and concluded that since Booker does not own the stores it supplies, the wholesaler cannot directly determine how they compete with Tesco.

Tesco operates more than 3,000 stores across the U.K. while Booker supplies services to more than 5,000 stores as well as to thousands of independent retailers and caterers.

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

(END) Dow Jones Newswires

December 20, 2017 02:42 ET (07:42 GMT)