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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Tesco    TSCO   GB0008847096

TESCO (TSCO)
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Tesco : Merger With Booker Group Cleared by U.K. Regulator

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12/20/2017 | 08:43am CEST

By Dimitrios Kontos

Tesco PLC (>> Tesco) 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 (>> Booker Group).

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.

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

Stocks mentioned in the article : Tesco, Booker Group
Stocks mentioned in the article
ChangeLast1st jan.
BOOKER GROUP 0.00%-End-of-day quote.-2.18%
TESCO -0.19% 208.4 Delayed Quote.3.23%
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Financials (GBP)
Sales 2019 64 540 M
EBIT 2019 2 100 M
Net income 2019 1 200 M
Debt 2019 2 439 M
Yield 2019 2,41%
P/E ratio 2019 16,59
P/E ratio 2020 13,11
EV / Sales 2019 0,37x
EV / Sales 2020 0,34x
Capitalization 21 160 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 2,68  GBP
Spread / Average Target 28%
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Managers
NameTitle
David John Lewis Group Chief Executive Officer & Director
John Murray Allan Non-Executive Chairman
Antony John Hoggett Chief Operating Officer
Alan James Harris Stewart Chief Financial Officer & Executive Director
Guus Dekkers Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TESCO3.23%27 871
SEVEN & I HOLDINGS CO., LTD.1.44%37 649
SYSCO CORPORATION13.32%35 834
AHOLD DELHAIZE7.22%26 849
WOOLWORTHS GROUP LTD0.59%25 691
KROGER-1.93%21 467