Lowe's not buying Rona Inc.
The Lowe's home improvement chain is retreating from its controversial plan to buy Rona Inc.
The withdrawal comes after Rona, the Quebec government and others objected to a sale of Canada's largest home improvement chain.
Lowe's says it has been unable to come up with a friendly deal but remains committed to the Canadian market through its own stores.
The North Carolina-based company had informally offered C$14.50 per share in cash.