It was difficult to defend the Quebec government’s decision to protect Rona Inc. at all costs when Lowe’s Companies Inc. first launched its hostile takeover bid last summer. It’s even more difficult today.

When the $1.8-billion hostile bid was first launched, there was an argument – albeit it a weak one – that Lowe’s was swooping in at an opportune time, stealing a Canadian company when the home improvement industry’s recovery was still nascent. If you forget that Lowe’s had suffered for five straight years, it might have seemed like a decent defence.