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An exterior view of a hardware store Rona Inc., in Brossard, Quebec, on January 30, 2013.
An exterior view of a hardware store Rona Inc., in Brossard, Quebec, on January 30, 2013.
(Christinne Muschi For The Globe and Mail)

Lowe’s doggedly pursued Rona for three-and-a-half years

Lowe’s Cos. Ltd. never stopped trying. In the 3-1/2 years between its takeover bids for Rona Inc., the American retailer incessantly pursued the Canadian chain and met with management numerous times to stress it still wanted to merge.

The timeline, laid out in a proxy circular for the $3.2-billion takeover, shows a company dogged in its pursuit. Meanwhile, Rona was cautious about what price would be palatable to shareholders, and also acutely aware of the need to get Quebec’s large pension fund on board before the deal was announced.