Rona Rejects C$14.50 Offer From U.S. Retailer Lowe’s


Rona Inc. (RON) investors anticipate a bidding contest to keep the home-improvement retailer in Quebec hands after it rejected an offer from Lowe's Cos. that sent the shares to a record one-day gain.

... "It's not a surprising reaction, if you look at the history of Quebec's position," said William Polushin, a professor of international business at McGill University in Montreal. "It's consistent with the idea that Quebec does try to identify wherever possible where it can support Quebec industry and do it Quebec's way."

Read full article: Bloomberg, August 1, 2012

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