Retail news round-up: Tesco shareholders oppose Booker deal, Brantano stops online trading and Sports Direct agency drafts advisers to raise capital
Tesco investors oppose Booker takeover deal
Tesco’s shareholders Schroders and Artisan Partners, with stakes of 4.49% and 4.48% respectively, oppose a £3.7bn takeover of Booker, the BBC reported.
Schroders fund manager Nick Kirrage in a letter to Tesco's chairman John Allan said the "high price" being paid for Booker would destroy value for investors and that Tesco should focus on its recovery and withdraw the offer.
Artisan's lead portfolio manager Daniel O'Keefe said that buying Booker could represent added distraction and risk.
Tesco believed that the rationale for the deal was "compelling".
Brantano stops trading online
Brantano has halted trading online following its administration, Drapers reported.
The website currently redirects online shoppers to a list of stores which are still trading.
Sports Direct agency appoints advisers to raise capital
Sports Direct’s employment agency Transline has appointed advisers to raise new capital as it faces pressure over working practices, Sky News reported.
Analysts suggest the reason for new investors could be declining margins.
Transline's spokesman said: "Transline will always consider options that would allow us to drive our business forward.
"We are committed to building the scale and size of our business."