Orchard acquisition progressing

Lowe’s intention to acquire Orchard Supply, an American chain, which the company announced in June, is as good as assured. According to a statement from Lowe’s, no other offers were received for the insolvent hardware group up to the closing date of 9 August 2013. The statement also said that the insolvency court will reach a decision on 20 August. Lowe’s expects the takeover to be finalised by the end of August.