Dec 6 Canadian home-improvement retailer Rona
Inc, the target of a C$1.8 billion takeover proposal by
U.S.-based Lowe's Cos Inc earlier this year, said it
expects to dispose of non-core assets and redeploy capital to
leverage core assets.
The company wants to improve its retail EBITDA (earnings
before interest, tax, depreciation and amortization) margin in
line with industry standards under the leadership of acting
Chief Executive Dominique Boies, who joined Rona in 2011, the
company said in a statement.
Lowe's withdrew its unsolicited offer buy Montreal-based
Rona in mid-September in the face of stiff opposition from
Quebec province politicians and many of the company's
Rona's longtime chief executive, Robert Dutton, stepped down
last month following disappointing results, prompting
speculation that the company could be back in play.