TORONTO — Loblaw announced that Canada’s Competition Bureau has approved its $12.4 billion bid to acquire Shoppers Drug Mart pharmacies. To win approval from the Competition Bureau, Loblaw has agreed to sell 18 stores and nine pharmacy operations. The company said it does not expect any store closures as a result of these divestitures. Further restrictions limit the liability of suppliers, who have been anxious to shore up their position in the wave of grocery mergers and acquisitons. Loblaw said it now expects the deal to close on March 28.
Shoppers deal clears Competition Bureau
Most Recent
Most Read
Weyerhaeuser sales, earnings slip in Q2
Fri, July 26th, 2024
Don’t miss the incredible speakers at the Hardlines Conference!
Fri, July 26th, 2024
Canfor announces CEO succession
Thu, July 25th, 2024
West Fraser reverses Q2 loss
Thu, July 25th, 2024
Tractor Supply’s comp sales dip in Q2
Thu, July 25th, 2024
Loblaw turns in mixed Q2 results, strong online sales
Thu, July 25th, 2024
In memoriam: blues rock legend John Mayall
Thu, July 25th, 2024
Barcodes turn 50
Wed, July 24th, 2024
Featured Classified: RONA
Wed, July 24th, 2024
RONA affiliate makes acquisitions in Ottawa area
Tue, July 23rd, 2024