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Booker reveals date of expected takeover by Tesco

Wellingborough, Northamptonshire, UK: Wholesaler Booker expects that Tesco’s £3.7bn takeover of the group will complete in early 2018, subject to the necessary shareholder approvals.

The group, which announced its interim results for the 24 weeks to 8 September, said that during the process Booker will continue to ensure it is “business as usual”.

It said that the merger would create the “UK’s leading food business”.

“We are excited by the opportunities the merger will create for consumers, our customers, suppliers, colleagues and shareholders,” said Booker in its statement.

Booker reported total sales of £2.6bn which was a rise of 2.5% while pre-tax profit was £88m, an increase of 9%.

Charles Wilson, chief executive of Booker, said: “Booker Group continues to make good progress with like-for-like non tobacco sales up 7.7%. Our plans to Focus, Drive and Broaden Booker Group are on track. The competition review of the planned merger with Tesco is progressing. We continue to help our retail, catering and small business customers prosper through improving our choice, prices and service.”