The Star.com Published on Mon Jul 15 2013
Loblaw Cos. said today it “changes the retail landscape in Canada” with its deal to buy Shoppers Drug Mart Corp. for $12.4 billion in a cash and stock that merges two of Canada’s biggest retailers. Loblaw, the country’s largest supermarket company, will pay $61.54 a share for the leading Canadian drugstore chain, the companies said today in a statement. That represents a price 27 per cent higher than the last closing price on Friday. “This transformational partnership changes the retail landscape in Canada,” Galen G. Weston, executive chairman of Loblaw, said in the statement. “With scale and capability, we will be able to accelerate our momentum and strengthen our position in the increasingly competitive marketplace.” (more)
Loblaw Cos. said today it “changes the retail landscape in Canada” with its deal to buy Shoppers Drug Mart Corp. for $12.4 billion in a cash and stock that merges two of Canada’s biggest retailers. Loblaw, the country’s largest supermarket company, will pay $61.54 a share for the leading Canadian drugstore chain, the companies said today in a statement. That represents a price 27 per cent higher than the last closing price on Friday. “This transformational partnership changes the retail landscape in Canada,” Galen G. Weston, executive chairman of Loblaw, said in the statement. “With scale and capability, we will be able to accelerate our momentum and strengthen our position in the increasingly competitive marketplace.” (more)
No comments:
Post a Comment