Tesco’s £3.7bn merger with wholesaler Booker has won approval from shareholders. Following support from the supermarket group’s investors, Tesco confirmed in a statement that Booker’s shareholders had now also backed the deal. The combined business is expected to start operating on 5 March 2018. Dave Lewis, group chief executive at Tesco, said: “I’m delighted that the shareholders of both companies have supported the merger. “This merger is about growth, bringing together our complementary retail and wholesale skills to create the […]
The threat of strike action by at least 2,000 members of union Unite at a number of Tesco DCs in the run-up to Christmas appears to have receded after the supermarket chain made a revised two-year pay offer.
TNT Express has announced the intended sale of its Dutch TNT Fashion Group operation to a consortium formed by Belgian fashion and lifestyle logistics firm Belspeed and Turkish logistics and transport conglomerate Netlog Group.
TNT said it is more certain about its future after the collapse of its multi-billion euro acquisition by UPS last week, despite analysts warning that the industry giant needs to “work out what is going on”. UPS pulled the plug on the €5.16bn (£4.31bn) deal after it became clear that the European Commission (EC) would veto the acquisition, which had been bogged down in EC red tape for the past 10 months, due to competition concerns. UPS said it was […]