Rona Inc., a Canadian home improvement chain, has rejected an unsolicited C$1.8 billion ($1.8 billion) takeover bid from Lowe’s Cos Inc., saying the offer was not in the best interests of shareholders, Reuters reported Tuesday. Rona said on Tuesday it had received a C$14.50 per share proposal from Lowe’s, the world’s second-largest home improvement chain, on Sunday, July 8.
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