Tesco Set to Create U.K.'s 'Leading Food Business'
The U.K.'s largest supermarket chain buys wholesaler Booker for $4.6 billion.
Tesco is set to create the U.K.'s "leading food business" by purchasing wholesaler Booker for $4.6 billion, the grocer said.
The deal will see the supermarket chain pay 205.3 pence per share.
Booker CEO Charles Wilson will join the combined board.
Tesco CEO Dave Lewis said, "This merger with Booker will further enhance Tesco growth prospects by creating the U.K.'s leading food business."
Tesco shares lead FTSE 100 gainers with a 10% advance.
