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Lowe’s offers $3.2B to take over Canadian rival Rona

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U.S. home improvement chain Lowe’s is buying Canadian rival Rona in a friendly takeover valued at $3.2 billion Cdn.

The boards of both companies unanimously approved the transaction, they said in a news release early Wednesday.

The deal would give the U.S. chain more of a foothold in Canada’s competitive home improvement and renovation retail market, especially in Quebec, where Rona dominates the market.

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PETE EVANS – CBC News – February 03, 2016.

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