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Rona denies reports of new Lowe’s takeover offer

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No new offers from Lowe's
Rona Inc. on Monday denied a La Presse report that it had received a new takeover offer from U.S.-based rival Lowe's Cos Inc.

Rona said it has not received any kind of proposal from Lowe's and "there have been no discussions between the two companies on this subject."

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Exxon's LNG project costs balloon to $19-billion
Exxon Mobil said it faces a $3.3-billion spike in costs at its LNG project in Papua New Guinea, the latest Asia-Pacific project to be hit by cost overruns as competition is set to grow from new gas supplies coming on tap in North America and Africa.

Petronas sweetens Progress Energy bid, FT says
Petroliam Nasional Bhd. offered to appoint more independent directors to Progress Energy Resources Corp.'s board to help win Canadian approval for its takeover bid, according to the Financial Times.

Hotel founder's exit may set up an acquisition
Luxury lodgings company Strategic Hotels & Resorts Inc. is turning into a takeover candidate after its founder's abrupt exit.

According to KBW Inc., the announced exit of CEO Laurence Geller could open the door for potential acquirers. The announcement sent the stock up 13 per cent, the most in 31 months.

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