Rona rejects takeover bid from Lowe’s

The board of Rona, the biggest home improvement retailer in Canada, has rejected a takeover offer on the part of Lowe’s. Rona declared in a press release that the offer, which was submitted at the beginning of July and proposes the acquisition of all shares at US $ 14.50 per share, was not in the interests of the company or of its shareholders. Lowe’s, however, appears to be maintaining its focus on Rona, saying that other options are now being examined.