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Rona Rejects Unsolicited Takeover Bid From Lowe’s Companies

Rona Inc., the Canadian hardware retailer, said it rejected an unsolicited takeover bid of C$14.50 a share from Lowe’s Companies Inc.

“The board believes that in the best interests of RONA and its stakeholders, the Corporation should remain focused on executing its business plan with a view to capturing significant opportunities that it sees for its business,” Rona said in a statement today.