The Globe and Mail reports in its Saturday edition that Canadian suppliers will benefit from the sale of Rona to U.S. retailer Lowe's, Economic Development Minister Navdeep Bains said Friday as he announced the federal government has signed off on the deal. A Canadian Press dispatch to The Globe says that approval under the Investment Canada Act was the final hurdle Lowe's needed to clear to become owner of Canada's largest collection of home-improvement stores. The Competition Bureau had given the acquisition its blessing on Thursday after Rona shareholders agreed to the deal in March. Lowe's figures the sale will close May 20. Mr. Bains said he is confident the sale will benefit Canadian product suppliers in the long run. "We know that a more innovative Canada needs to include competitive Canadian companies that are connected to global value chains," the minister said. Rona closed Friday at $23.98, up 15 cents on the Toronto Stock Exchange.