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Canada: Loblaw feasts on $12B grocery buyout

By  |  July 16, 2013

The Loblaw Companies Limited conglomerate announced plans to merge with pharmacy and grocery store chain Shoppers Drug Mart Corporation in a deal worth nearly $12 billion, according to a press release. Reports say the buyout will allow Loblaw to step into the market of small-urban stores, while Shoppers Drug Mart will continue to operate independently under its own name. The plans remain subject to shareholder and regulatory approval. The deal has not come without resistance, however, as some have speculated what the merger would mean for consumers in Canada, say reports.

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