Tesco and Dobbies reveal agreement in UK

The boards of directors of Tesco PLC and Dobbies Garden Centres plc have announced that they have reached agreement on the terms of a recommended cash offer for Dobbies by Tesco Holdings Ltd.

The offer is at a price of 1,500 pence in cash for each Dobbies Share, valuing the entire issued and to be issued share capital at approximately £155.6m (€229m).