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Lowe’s buys Rona for $3.2 billion Canadian
American based Lowe’s has just announced it’s buying Rona. The pricetag? $2.3 billion U.S.or $3.2 billion Canadian. The deal’s been unanimously approved by the boards of directors for each company.
Lowe’s will pay $24 a share for Rona’s common shares, more than double the stock’s closing price yesterday.
Lowe’s will locate its Canadian head office in Boucherville, Quebec. Lowe’s had been interested in buying the Quebec based Rona for years.
