Dive Summary:
- Based on details published by Chain Store Age, the Ontario Superior Court of Justice in Canada has approved the takeover of Shoppers Drug Mart by Loblaw Co.
- The completion of the transaction is conditional and based on compliance with the Canadian Competition Act and other customary conditions.
- Loblaw Cos.’ Acquisition of Canada’s largest retail pharmacy chain is set to be completed during the first quarter of 2014.
From the article:
As previously reported, Loblaw and Shoppers Drug Mart announced on July 15 the definitive agreement under which Loblaw will acquire Shoppers Drug Mart for C$12.4 billion in cash and stock.
