Lowe's offers to buy Canada's Rona for C$1.8 billion

http://www.reuters.com/article/2012/07/31/us-rona-offer-lowes-idUSBRE86U1E420120731

Lowe's Cos (LOW.N), the world's No. 2 home improvement chain, wants to spend C$1.8 billion to buy Canadian competitor Rona Inc (RON.TO), but the struggling Canadian retailer publicly rejected the offer on Tuesday and said its own turnaround plan offered a better chance of success.