The Quebec government is vowing to block Lowe’s hostile takeover of Rona.
Quebec’s finance minister says the $1.76 billion bid is not in the interests of either the province, or Canada. Rona says it considered the offer for a couple of weeks before rejecting the offer, saying it is not in the best interest of shareholders.
The deal would have given Lowe’s a bigger foothold in Canada.
Marvin Ryder from the DeGroote School of Business is here with his thoughts on the battle: