Canadian Tire gets takeover go-ahead

Canadian Tire is getting the green light for a major takeover deal.

The deal to buy the Forzani Group is worth over $770 million.

The retailer says it received a letter stating the competition bureau does not intend to take any action related to the purchase.

Forzani owns some five-hundred stores, including sport check and athletes world.

This will make Canadian Tire the owner of the top two sporting good retail chains in the country.