Feb 3 (Reuters) - Rona Inc RON.TO :
* Lowe's to acquire Rona; creating Canada's leading home improvement retailer
* Total transaction value is C$3.2 billion
* Says deal for C$24.00 per share
* Says anticipate the transaction will be accretive to Lowe's earnings in the
first year following the close of the acquisition
* Says transaction has been unanimously approved by the boards of directors of
Lowe's and Rona
* Says Canadian operations will be led by sylvain prud'homme, president of
Lowe's Canada
* Says Rona board has received an opinion from scotia capital that offer to be
received by rona's common and preferred shareholders is fair
* Says Lowe's has identified over C$1 billion of opportunities to further
increase revenue and operating profitability in Canada
* Says Lowe's to acquire outstanding common shares of Rona for C$24 per share
in cash, preferred shares for C$20 per share in cash
* Source text for Eikon ID:nCCN1ZpK0f
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