Lowe’s agrees to buy RONA’s preferred shares

MOORESVILLE, N.C. & BOUCHERVILLE, Que. — Lowe’s Cos. says it has entered into a definitive agreement for the acquisition of RONA’s outstanding Class A preferred shares for CD$24 per share in cash. Lowe’s will make the purchase through a wholly owned subsidiary. RONA’s board of directors has unanimously approved the transaction, which is expected to be completed before the end of the year.