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Sale of RONA: Shareholders pass vote

Sale of RONA: Shareholders pass vote

RONA shareholders must attend a special meeting Thursday morning to decide on the Lowe's bid.

The US giant announced on February 3 its proposed $ 3.2 billion to get their hands on the Quebec chain.

The vote should be made public in a press release earlier this afternoon.

The boards of directors of both companies have already agreed to the transaction.

Recall the offer

The repurchase plan calls Lowe's will pay $ 24 in cash for each common share of RONA. A sum of $ 20 in cash will also be granted to preferred shares.

The US company is committed to keep the vast majority of existing RONA employees, senior management and the head office in Boucherville.

In 2012, the Quebec ironmonger had refused an offer of $ 1.76 billion for Lowe's.

RONA has almost 500 corporate stores and independent dealer, nine distribution centers and employs over 22 000 people.

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Master of Economics, University of Harvard, worked as an analyst in a few large companies and specializes in many countries. Currently owned by a large company that conducts assessment of investment attractiveness in the various countries of the world.