Rona denies report of offer from Lowe's

Mon Nov 12, 2012 1:32pm GMT

Related Topics



Nov 12 (Reuters) - Canadian home-improvement retailer and distributor Rona Inc said it "categorically denied" report published in newspaper La Presse on Saturday suggesting that it had received a buyout offer from U.S.-based rival Lowe's Cos Inc.

Rona said it has not received any proposal of any kind from Lowe's and there have been no new buyout discussion between the two companies.

Lowe's withdrew its C$1.8 billion ($1.86 billion) proposal to buy Rona in mid-September, after opposition from politicians in Rona's home province of Quebec and from its dealers.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.