{"id":7619,"date":"2018-03-05T16:33:00","date_gmt":"2018-03-05T16:33:00","guid":{"rendered":"https:\/\/english.thesunrisetoday.com\/?p=7619"},"modified":"2018-03-05T17:06:48","modified_gmt":"2018-03-05T17:06:48","slug":"tesco-completes-5-5bn-takeover-of-booker","status":"publish","type":"post","link":"https:\/\/english.thesunrisetoday.com\/index.php\/tesco-completes-5-5bn-takeover-of-booker\/","title":{"rendered":"Tesco completes $5.5bn takeover of Booker\u200b"},"content":{"rendered":"<p style=\"text-align: justify;\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-1538\" src=\"https:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2014\/03\/Tesco.jpg\" alt=\"Tesco\" width=\"307\" height=\"163\" srcset=\"https:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2014\/03\/Tesco.jpg 307w, https:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2014\/03\/Tesco-300x160.jpg 300w\" sizes=\"(max-width: 307px) 100vw, 307px\" \/>Tesco\u2019s \u00a34 billion ($5.51 billion) takeover of Booker has completed, both companies said on Monday, creating a new powerhouse in Britain\u2019s \u00a3200 billion-a-year food market.<br \/>\nThe cash and shares deal to combine Tesco, Britain\u2019s biggest retailer, with Booker, the country\u2019s largest wholesaler, received court approval on Friday and is now in effect.<br \/>\nThe deal received regulatory approval in December and both sets of shareholders backed the plan last Wednesday.<br \/>\nBooker shares have now been de-listed from the London Stock Exchange. For each Booker share Tesco offered 0.861 new Tesco shares and 42.6 pence in cash. Tesco shares closed Friday at 202 pence.<br \/>\nAnalysts noted that with a market capitalization of just under \u00a320 billion, Tesco is now bigger than the whole of rivals Sainsbury\u2019s, Morrisons, Marks &amp; Spencer and Ocado put together.<br \/>\nTesco will now start its \u201cJoining Forces\u201d program to integrate the two businesses.<br \/>\nCharles Wilson, formerly Booker\u2019s chief executive, takes over as CEO of Tesco\u2019s retail and wholesale operations in the UK and Ireland reporting to group CEO Dave Lewis.<br \/>\nStewart Gilliland, formerly Booker chairman, will become a non-executive director of Tesco.<\/p>\n<div id=\"fb-root\"><\/div>\r\n<script>(function(d, s, id) {\r\n  var js, fjs = d.getElementsByTagName(s)[0];\r\n  if (d.getElementById(id)) return;\r\n  js = d.createElement(s); js.id = id;\r\n  js.src = \"\/\/connect.facebook.net\/en_GB\/all.js#xfbml=1\";\r\n  fjs.parentNode.insertBefore(js, fjs);\r\n}(document, \"script\", \"facebook-jssdk\"));<\/script>\r\n <fb:comments href=\"https:\/\/english.thesunrisetoday.com\/index.php\/tesco-completes-5-5bn-takeover-of-booker\/\" font=\"arial\" num_posts=\"\" width=\"\" height=\"\" colorscheme=\"light\"  style=\"background:#FFFFFF;padding-top:0px;\r\npadding-right:0px;\r\npadding-bottom:0px;\r\npadding-left:0px;\r\nmargin-top:0px;\r\nmargin-right:0px;\r\nmargin-bottom:0px;\r\nmargin-left:0px;\r\n\"><\/fb:comments>","protected":false},"excerpt":{"rendered":"<p>Tesco\u2019s \u00a34 billion ($5.51 billion) takeover of Booker has completed, both companies said on Monday, creating a new powerhouse in Britain\u2019s \u00a3200 billion-a-year food market. The cash and shares deal to combine Tesco, Britain\u2019s biggest retailer, with Booker, the country\u2019s largest wholesaler, received court approval on Friday and is now in effect. The deal received &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,1],"tags":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/7619"}],"collection":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/comments?post=7619"}],"version-history":[{"count":1,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/7619\/revisions"}],"predecessor-version":[{"id":7620,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/7619\/revisions\/7620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/media\/1538"}],"wp:attachment":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/media?parent=7619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/categories?post=7619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/tags?post=7619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}