A PYMNTS Company

Canada: Lowe’s $3.2 billion Rona takeover cleared

By  |  May 15, 2016

Canada’s Competition Bureau and Investment Canada have approved the Lowe’s takeover of Quebec-based Rona.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The federal competition watchdog said May 12 that the acquisition by the U.S. company won’t limit consumer choice, while the deal was granted approval under the Investment Canada Act.

    The $3.2 billion agreement was overwhelmingly approved by the Boucherville, Que. home improvement chain’s shareholders in March, but it also stirred some degree of nationalist sentiment, particularly from Pierre Karl Peladeau, the Parti Quebecois leader at the time.

    owe’s entered the Canadian market in 2007 and had 42 stores in British Columbia, Alberta, Saskatchewan and Ontario when the $3.2-billion deal was announced in February.

    Full Content: Canadian Manufacturing

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.