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Rona turns down $1.9 billion acquisition bid by Lowe’s
Lowe’s made an offer, but Rona refused.
The two North American home improvement giants will continue to operate as competitors in Canada, where Lowe’s has been growing organically for the past several years amid rumors that just such an acquisition play was in the cards.
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Weis Markets net income up 12.7%
SUNBURY, Pa. — Weis Markets reported that it's net income increased 12.7% to $23.2 million in net income while its earnings per share increased 11.7% to 86 cents per share, compared with 77 cents per share for the same period in 2011. Second quarter operating income increased 11.4% to $35.3 million.
Second quarter sales increased 0.1% to $677.1 million while comparable-store sales increased 0.4%.