RONA Denies Takeover Bid from Lowes
Rona denies newspaper report that it has received takeover offer from Lowe's
MONTREAL - Rona has denied a newspaper report that it has received a takeover offer from Lowe's Companies or has held discussions with its U.S.-based rival.
"Rona has not received any proposal of any kind from Lowe's and there have been no discussions between the two companies on this subject," the Quebec-based company said Monday, days after Robert Dutton suddenly stepped down as CEO amid weak results, prompting some investors to urge the two sides to open talks.