November 12, 2012 / 1:35 PM / 5 years ago

Rona denies report of offer from Lowe's

Nov 12 (Reuters) - Canadian home-improvement retailer and distributor Rona Inc said it “categorically denied” report published in newspaper La Presse on Saturday suggesting that it had received a buyout offer from U.S.-based rival Lowe’s Cos Inc.

Rona said it has not received any proposal of any kind from Lowe’s and there have been no new buyout discussion between the two companies.

Lowe’s withdrew its C$1.8 billion ($1.86 billion) proposal to buy Rona in mid-September, after opposition from politicians in Rona’s home province of Quebec and from its dealers.

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