Tesco has finally won the battle for Dobbies after the retail giant increased its shareholding to around 53 percent this week.
That gave the supermarket a controlling interest in the garden centre chain, making its cash offer unconditional.
However Tesco will not have everything its own way after Wyevale owner Sir Tom Hunter bought further shares through his West Coast Capital company to take his own shareholding to just under 30 percent.
Tesco chief executive Sir Terry Leahy said: “We’re absolutely delighted that we’ll be able to put our exciting plans for Dobbies into practice. We look forward to working with Dobbies’ excellent staff and first-class management team; it’s a great brand that we will retain and develop from its Scottish base.”
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