The Globe and Mail reports in its Thursday edition that Lowe's says the acquisition of Rona has improved its profit forecast for 2016 already, even though the deal has yet to close formally. A Canadian Press dispatch to The Globe quotes the U.S.-based home improvement retailer as saying Wednesday that it now expects to earn $4.11 (U.S.) per share for this year, up from the previous estimate of $4 (U.S.), thanks to an 11-U.S.-cent gain on a currency item related to Rona purchase. The $3.2-billion (Canadian) friendly takeover deal is expected to close this week. Although the Lowe's outlook excludes the revenue from Rona, the North Carolina-based company has said the deal will boost its earnings in the coming year excluding transaction and integration costs. "The time is right to fortify our Canadian market presence to take advantage of the significant long-term potential we see," Lowe's chairman and chief executive officer Robert Niblock said during a conference call. "We expect to build on the recent progress our team in Canada has made and the positive results Rona has achieved over recent years as a result of their restructuring efforts." Rona closed at $23.98 (Canadian) Wednesday, unchanged in Toronto.