World Economy

Tesco to Buy Booker for $4.6b

 Tesco to Buy Booker for $4.6b Tesco to Buy Booker for $4.6b

Britain’s biggest retailer Tesco has agreed to buy leading wholesaler Booker for £3.7 billion ($4.6 billion), reasserting its dominance in food with a bold move into the faster-growing catering market, Reuters reported. Tesco’s planned takeover of Booker shows the supermarket chain’s renewed confidence after two years of gradual recovery under Chief Executive Dave Lewis following an accounting scandal. The group also said on Friday it would restart paying dividends for the 2017-18 financial year, having not paid one to investors since the second half of its 2014-15 year when it was mired in crisis.


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