About Lowe's takeover bid for Rona

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bagkitty bagkitty's picture
About Lowe's takeover bid for Rona

I ran into an interesting assertion in Thursday's Globe referring to the proposed takeover of Rona by the American chain Lowe's - the following remark was made by Andre Pratte (editor-in-chief of La Presse):

As for Rona, the company is a very big buyer of Canadian manufactured goods (84 per cent of the products it sells come from Canada; 43 per cent from Quebec companies). If Lowe's buys Rona, it will certainly concentrate its purchases in the U.S., meaning a huge loss for Canadian manufacturers.

Why am I not surprised that the "business" reporting on this out-of-the-blue takeover bid has not mentioned the sourcing of the products the company sells?