March 5, 2018 / 7:59 AM / a year ago

Tesco completes $5.5 billion takeover of Booker​

Woman sits under a logo of Tesco supermarket in Budapest, Hungary February 29, 2016. REUTERS/Laszlo Balogh

LONDON (Reuters) - Tesco, Britain’s biggest retailer, has completed the 4 billion pound ($5.51 billion) takeover of Booker, the country’s largest wholesaler, the companies said on Monday.

The cash and shares deal, originally worth 3.7 billion pounds when it was first announced in January 2017, was implemented through a court-sanctioned scheme of arrangement.

Tesco and Booker said the scheme was now effective after court approval on Friday.

That followed the backing of both sets of shareholders on Wednesday and the regulatory green light in December.

Reporting by James Davey, editing by Sarah Young

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