February 15, 2018 / 4:54 PM / in 8 months

ISS recommends Booker investors vote against Tesco deal

LONDON, Feb 15 (Reuters) - Shareholder advisory firm Institutional Shareholder Services has recommended investors in Booker to vote against a planned merger with Tesco , citing concerns about the financial merits of the deal.

“In essence, the merger presents attractive growth opportunities and strong rationale for Tesco underpinned by significant expected synergies, while the rationale for Booker shareholders to give up control appears less-than-compelling at the relatively low premium offered,” it said in a note. (Reporting by Ben Martin and Simon Jessop; editing by Jonatha Saul)

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