Shoppers deal clears Competition Bureau

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.