Lowe's Withdraws Merger Proposal from Rona Board

Lowe's Companies Inc. LOW announced today it has formally withdrawn its non-binding proposal dated July 8, 2012 to the Board of Directors of RONA Inc. RON ("RONA") to acquire all of the issued and outstanding common shares of RONA for C$14.50 in cash per share. Lowe's has repeatedly attempted to engage the Board of Directors of RONA with respect to its proposal in order to conduct confirmatory due diligence and move forward with a friendly, negotiated transaction.