Tesco and Booker, the leading UK food wholesaler, announced that they have reached an agreement on the terms of a recommended share and cash merger. Under these terms, Booker’s shareholders will receive 0.861 New Tesco shares and 42.6p in cash. Based on Tesco share price on 26 January, Booker is valued at £3.7bn. The merger will result in Booker’s shareholders owning 16% of the combined group. The aggregate value of the cash offer is approximately £760m which will be f
