Loblaw-Shoppers deal approved by Canada's Competition Bureau

[riky]

Loblaw-Shoppers deal approved by Canada's Competition Bureau

Loblaw Cos Ltd , Canada's largest grocer, said on Friday Canada's competition watchdog has approved its C$12.4 billion ($11 billion) acquisition of Shoppers Drug Mart Corp , the country's biggest pharmacy chain. The deal cements Loblaw's No. 1 position in Canada at a time when competition from domestic retailers such as Sobeys and U.S. retailers such as Wal-Mart Stores and Target is heating up. To win approval from the Competition Bureau, Loblaw has agreed to sell 18 stores and nine pharmacy operations.

Source: You are not allowed to view links. Register or Login