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Stock impact report

U.S. activist investor says Booker should get better offer from Tesco [Reuters]

Artisan Partners Asset Management Inc. Class A (APAM) 
Last artisan partners asset management inc. class a earnings: 4/29 04:01 pm Check Earnings Report
US:NYSE Investor Relations: apam.com
Company Research Source: Reuters
U.S. activist investor says Booker should get better offer from Tesco | Reuters 3 Min Read LONDON (Reuters) - A U.S. hedge fund which owns a stake in Booker Group ( BOK.L ) said on Thursday it plans to oppose Tesco’s ( TSCO.L ) 3.7 billion pound takeover bid unless the wholesaler secures a better deal. Sandell Asset Management said in a statement that it holds the equivalent of 1.75 percent of Booker and had expressed its concerns about the Tesco takeover in a letter to Booker’s board. Sandell believes that fair value for Booker shares is between 255 pence per share and 265 pence. That is above Booker’s closing price of 221.5 pence on Thursday and the value of Tesco’s bid when the deal was agreed in January 2017, when the cash-and-shares offer was worth 205.3 pence per share. Sandell’s criticism of the deal with Britain’s biggest retailer comes ahead of a vote by Booker’s shareholders to approve the takeover at a meeting due to be held on February 28. Booker needs the backing of 75 Show less Read more
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