LONDON, March 27 Schroders, one of
Tesco's largest investors, on Monday called on the
supermarket group to withdraw its 3.7 billion pound ($4.7
billion) agreed offer for wholesaler Booker, saying it
was unlikely to create shareholder value.
In a letter to Tesco Chairman John Allan, seen by Reuters,
Schroders also called on other investors who shared its view to
Schroders is Tesco's third-largest investor with a 4.49
percent holding, according to Reuters data.
The Financial Times, which first reported Schroders' stance,
said Artisan Partners, which holds 4.48 percent, also opposes
the Booker deal.
($1 = 0.7961 pounds)
(Reporting by Carolyn Cohn and James Davey)