Tesco eyes 'eating out' market with new buy

Supermarket giant Tesco has agreed to buy British food wholesaler Booker Group for around £3.7 billion in an effort to grab a slice of the growing eating out market.

After the cash and shares deal, Booker shareholders will own around 16 per cent of the combined company, the companies said this morning.

Booker investors will get 0.861 new Tesco shares and 42.6p in cash for every share they own.

At around 205.3p per ...