MONTRÉAL, Feb. 3, 2016 /CNW Telbec/ - Caisse de dépôt et placement du Québec has reviewed the proposal made by Lowe's Companies, Inc. ("Lowe's") to acquire RONA Inc. ("Rona"), which was announced earlier today.
Considering the unanimous recommendation by Rona's Board of Directors to accept this offer, the premium of 105% relative to the volume weighted average share value on the Toronto Stock Exchange over the past 30 days ($11.68), la Caisse's duties to its clients and the commitments made by Lowe's regarding its presence in Québec and in Canada, la Caisse confirms that it will tender its shares under the offer made by Lowe's. Overall, la Caisse believes the transaction will result in equal or superior economic activity generated by the Rona banners in Québec.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2015, it held $240.8 billion in net assets. As one of Canada's leading institutional fund managers, la Caisse invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
SOURCE Caisse de dépôt et placement du Québec
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