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Tesco's battle for Dobbies hots up

Tesco Dobbies

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The battle for garden centre chain Dobbies is set to continue after Tesco failed to secure the support it needed from shareholders.

The supermarket chain has extended its offer and has given Dobbies shareholders until August 19 to accept their offer of £15 a share or the bid “will lapse.”

Tesco, which currently has 32.6% of shares in the garden centres, is battling for Dobbies with Scottish entrepreneur Sir Tom Hunter who now has a 26 stake in the company.

Tesco said in a statement: “The acquisition of Dobbies will provide Tesco with a new source of growth with the longer term potential for Dobbies to grow strongly and increase access to environmentally friendly products at keener prices, allowing more customers to make a greener choice.”

by Glenn Pearson

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