Lowe's to Acquire RONA in Transaction Valued at $2.3B

Lowe's Companies, Inc. LOW ("Lowe's" or the "Company") and RONA inc. RON RON.PR.A) ("RONA") announced today that they have entered into a definitive agreement under which Lowe's is expected to acquire all of the issued and outstanding common shares of RONA for C$24 per share in cash, and all of the issued and outstanding preferred shares of RONA for C$20 per share in cash.  The total transaction value is C$3.2 billion (US$2.3 billion) (the "Transaction").  The offer represents a premium of 104 percent to RONA's closing common share price on February 2, 2016 and a 38 percent premium to RONA's 52-week high of C$17.36. Together, Lowe's Canada and RONA stores will create Canada's leading home improvement retailer with 2015 pro See full press release