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Booker Group to buy rival Makro in a deal worth £139.7m Booker Group to buy rival Makro in a deal worth £139.7m
(about 2 hours later)
Food wholesaler Booker Group is buying rival Makro UK in a combined share issue and cash deal worth a total of £139.7m.Food wholesaler Booker Group is buying rival Makro UK in a combined share issue and cash deal worth a total of £139.7m.
Booker is acquiring Makro UK from German owner Metro Group in exchange for new shares representing a 10% stake in Booker and a cash payment of £15.8m. Booker href="http://otp.investis.com/clients/uk/booker/rns/regulatory-story.aspx?cid=240&newsid=252038" >is acquiring Makro UK from German owner Metro Group in exchange for new shares representing a 10% stake in Booker and a cash payment of £15.8m.
Charles Wilson, boss of Booker, said the deal would "improve choice, prices and service" for its customers.Charles Wilson, boss of Booker, said the deal would "improve choice, prices and service" for its customers.
Booker shareholders will be asked to vote on the deal next month.Booker shareholders will be asked to vote on the deal next month.