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Loblaws gets approval for Shoppers purchase, but must sell some stores

TORONTO - Loblaw Companies Ltd. has received approval from the Competition Bureau for its $12.4-billion purchase of Shoppers Drug Mart, with a few stipulations. The federal agency is requiring Loblaw to sell a total of 18 stores and nine Loblaw-run pharmacies to an independent operator. Most of the stores listed for sale are in smaller communities and include 14 Shoppers locations and four under Loblaw banners. Other "behavioural restrictions" will be placed on Loblaw over agreements with suppliers for up to five years, the Competition Bureau said.

Loblaw files information statement containing new details on Shoppers deal

TORONTO - George Weston Ltd. will likely see its stake Loblaw Companies Ltd. shrink to a minority position with the proposed $12.4-billion takeover of Shoppers Drug Mart Corp., but remain the biggest single shareholder in Canada's largest supermarket chain. In a statement issued after markets closed Tuesday, Loblaw (TSX:L) said it may issue a maximum of 119.9 common shares to shareholders of Shoppers (TSX:SC) in the cash and stock deal. Loblaw will also issue around 10.5 million shares to George Weston Ltd. (TSX:WN).

Loblaw expects strong growth despite heightened competition from U.S. rivals

Loblaw Companies Ltd. says it anticipates strong growth for the rest of the year, even as it braces for increased competition from U.S. discount retailers Walmart and Target. "We have a lot of competition coming in," chief financial officer Sarah Davis said during a conference call Wednesday. "You can't underestimate the power of the competition and the number of stores that Target and Walmart will be opening in the remainder of the year."

Loblaws inks deal for pharma retailer Shoppers worth $12.4 billion

TORONTO - Two of Canada's biggest retailers have struck an agreement to combine their operations, with Loblaw Companies Ltd. (TSX:L) buying Shoppers Drug Mart Corp. for $12.4 billion in cash and stock. The acquisition will keep Shoppers' brand name in place and allow it to operate as separate division of Loblaw, the companies said on Monday. But, it also raises questions about the next major deal in Canada's hotly pursued pharmacy retailer sector.

Loblaw files preliminary prospectuses for $7B REIT, debenture offering

BRAMPTON, Ont. - Loblaw Companies Ltd. (TSX:L) filed a preliminary prospectus Friday aimed at creating one of Canada's largest commercial real estate trusts including some 75 per cent of the company's real estate assets. Choice Properties Real Estate Investment Trust will hold 415 retail properties, one office complex and nine warehouse properties totalling 35.3 million square feet of gross leasable area.

Loblaw to include structural integrity audits of supplier companies

TORONTO - Loblaws says it will continue manufacturing Joe Fresh clothing in Bangladesh and also take new steps to ensure the structural integrity of the factories in the wake of the collapse of a building that housed one of its suppliers. "We must do a better job to enforce the safety of workers producing our products in Bangladesh and around the world," Joe Mimran, who founded the clothing brand Joe Fresh, said Thursday.

Loblaw will give more help to victims of Bangladesh tragedy; hikes dividend

Loblaw Companies Ltd. is pledging more help to victims in the collapse of an illegally built factory in Bangladesh where some of its Joe Fresh clothing was made. "I'm deeply shaken by the event as are our colleagues throughout our Joe Fresh and Loblaw business," executive chairman Galen Weston said Wednesday. More than 400 people died in the collapse and Loblaw has already said it will pay compensation to the victims and their families.
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