16th Mar 2018 10:55
LONDON (Alliance News) - Tesco PLC said Friday former Booker Group PLC boss and new UK & Ireland Retail Operations Chief Executive Officer Charles Wilson has acquired GBP11.1 million worth of shares in the supermarket firm, as he invested the cash portion of Tesco's takeover of Booker into the enlarged business.
Wilson acquired 5.1 million shares at 215.5264 pence each on Thursday. Shares in Tesco were 2.0% lower at 209.70 pence on Friday.
The holding of Wilson after the deal was not disclosed.
Tesco - the UK's largest supermarket by market share - surprised the market in January 2017 by announcing a GBP3.7 billion cash and stock deal to buy food wholesaler Booker. Under the deal, Tesco offered a default consideration of 0.861 Tesco shares and 42.6 pence per share in cash for each Booker share.
Wilson - Booker CEO since 2005 - elected to receive all his proceeds from the Tesco bid in shares under the mix and match facility. Under the facility, the amount of the takeover received in shares by Wilson was scaled down to 94%.
For the remaining cash portion, Wilson elected to ask his broker to invest this into Tesco shares as well. Wilson intends to hold the shares for five years from March 2018.
Related Shares:
Tesco
