takovers

Rona executives say they’re not interested in a $1.76 billion takeover offer from rival home improvement chain Lowe’s, but shareholders of the Quebec-based company are betting it might happen anyway. Share’s of Rona are up nearly 20 per cent in early trading Tuesday morning at $14.10. Rona said before markets opened that it had received an informal offer from Lowe’s of $14.50 on July 8, but that its board had decided Rona “should remain focused on executing its business plan with a view to capturing significant opportunities that it sees for its business.”