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Stamp of approval for Lowe’s pending Rona acquisition


May 16, 2016
By Renée Francoeur


May 16, 2016 – Lowe’s Companies Inc. announced it has been granted approval under the Investment Canada Act and clearance from the Competition Bureau with respect to its pending acquisition of Rona.

“We are very pleased that Canadian regulatory agencies have authorized the transaction and we look forward to the benefits it will bring to stakeholders across the country,” said Lowe’s Canada president Sylvain Prud’homme.

Given that the transaction has previously been approved by Rona common shareholders, as EBMag reported earlier this year, Lowe’s says this announcement represents the last major milestone in the process. The company says it expects to close on May 20, 2016.

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