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Tesco completes $5.51 billion takeover of Booker​

  • The cash and shares deal, originally worth £3.7 billion when it was first announced in January 2017, was implemented through a court-sanctioned scheme of arrangement.
Matt Cardy | Getty Images

Tesco, Britain's biggest retailer, has completed the £4 billion ($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 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.