RONA rallies against U.S. invasion from Lowe’s


Some TV pundits like to suggest that it should not matter to Canadians if a Canadian company is taken over by a U.S. Big Business interest like Lowe’s… but it does.

As the workers of the former Hamilton-based Stelco found out, with U.S. take-over brings exploitative U.S. labour practices and other corporate mentalities into Canada.
 
RONA merchants have recognized the importance of keeping RONA in our Canadian hands, and seek the help of fellow Canadians to defend our Canadian enterprise and cultural identity.


RONA has adopted well to a “Canadian way of doing things” Lowe’s seek us, as Canadians, to conform with an oppressive American model that its capitalists seek to impose on Canada.


Lowe’s is showing to us, as Canadians, why we should not have in the first place, let them set-up operations in Canada.

Lowe’s could be viewed to be like the worst house guest you could imagine who having come into your place, decides that he or she wants to now “call the shots” and posses your stuff as his or her own.


Rona Inc.’s merchants are wading into the takeover battle with U.S. rival Lowe’s Cos. by accumulating shares in an attempt to help keep the home improvement retailer Canadian-owned.


The move comes amid growing concern among hardware vendors that Lowe’s buying Rona would mean further consolidation in an industry already dominated by the three largest players.


Several Rona store owners have been increasing their positions in the hardware specialist in past weeks, franchise owner Stéphane Gagnon said in a recent interview.


As a merchant, this whole thing isn’t attractive in the least


Their mobilization underscores the positioning by supporters and opponents alike as the market waits for a formal takeover attempt.


Mr. Gagnon’s group alone has hiked its stake by about 37% over the past year, well beyond the minimum required under contract with Rona.


“We’re trying to buy as many shares as we can” to help block a sale, Mr. Gagnon said.


Mr. Gagnon, who together with partners owns four big box stores and two smaller so-called satellite outlets on Montreal’s south shore. Other merchants are doing the same in an informal effort, he said.


Internet site reference: http://business.financialpost.com/2012/08/07/rona-store-owners-aim-to-block-lowes-takeover

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