Lowe's to Acquire Canada's Rona in $2.3B Deal

Lowe's is expanding its footprint in Canada with a $2.3 billion acquisition of the home improvement retailer Rona. It's Lowe's second run for the company. Lowe's made a $1.9 billion bid for Rona in 2012, but that deal never went through. Chairman and CEO Robert Niblock said in a written statement Wednesday that the acquisition gives Lowe's exposure in Quebec, a province of more than 8 million people, where Lowe's currently has no presence.