Tesco Holds Its Nerve, And Finally Wins Its Booker Prize: Gadfly
Tesco has finally won its Booker prize.
Shareholders from both companies approved Tesco's takeover of Booker on Wednesday. Some 83% of the target's proxy votes cast were in favour of the combination, ahead of the 75% required.
Tesco could easily have afforded to raise its £4 billion offer, and that would have made the outcome less nail biting for its Chief Executive Officer, Dave Lewis. Gadfly has argued that Britain's biggest grocer had more to lose from the deal falling apart than did the wholesaler.
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