09:08:43 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Rona Inc
Symbol RON
Shares Issued 106,904,501
Close 2016-02-03 C$ 23.30
Market Cap C$ 2,490,874,873
Recent Sedar Documents

Globe says Quebec won't challenge Rona acquisition

2016-02-04 09:01 ET - In the News

The Globe and Mail reports in its Thursday edition that Quebec's Economy Minister warned that her government would intervene in future takeovers of Quebec companies if the offers are non-solicited. The Globe's Nicolas Van Praet quotes Dominique Anglade as saying, "If it's hostile, definitely the government needs to be involved and engaged with the partners and see what can be done in order to save the situation and find the right solution." She made her comments to The Globe after Lowe's announced that it struck a friendly $3.2-billion deal for Rona. The government is backing the deal on the grounds that it is a friendly agreement that maintains Rona's headquarters in Boucherville, and most jobs while providing significant prospects for growth. Quebec has not been tested much in recent months with respect to its takeover policy. In 2014, after gold miner Osisko was sold to Yamana Gold and Agnico Eagle Mines, Osisko's chief executive officer lashed out at what he saw as Canada's bidder-friendly takeover regulations. Last year, Cirque du Soleil founder Guy Laliberte sold majority control in a friendly deal. Nevertheless, the purchase by non-Quebec entities of Quebec companies remains a political issue.

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