Activist Sandell calls on Booker to secure better Tesco bid terms

By Kitco News / February 08, 2018 / www.kitco.com / Article Link

By Ben Martin

LONDON, Feb 8 (Reuters) - Activist investor Sandell Asset Management plans to oppose Tesco's 3.7 billion pound ($5.2 billion) takeover of Booker Group unless the wholesaler secures a better offer from Britain's biggest retailer.

The New York based hedge fund said in a statement on Thursday that it holds a 1.75 percent stake in Booker and that it had expressed its concerns about the Tesco takeover to Booker's board.

Booker shareholders will have to approve Tesco's offer at a vote in order for it to proceed. ($1 = 0.7191 pounds)


(Reporting by Ben Martin; editing by Alexander Smith)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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