Loblaws to buy Shoppers Drug Mart for $12.4-billion
The Globe and Mail
Published Monday, Jul. 15 2013, 6:08 AM EDT
Last updated Monday, Jul. 15 2013, 10:41 AM EDT
Loblaw Cos. Ltd. has struck a definitive agreement to acquire Shoppers Drug Mart for $12.4-billion in cash and stock.
The deal will create a retail juggernaut in a Canadian market already populated by formidable competitors such as U.S. giants Target Corp. and Wal-Mart Stores Inc .
The combined company – on a pro forma basis – pulled in $42-billion in revenue, $3-billion in earnings before interest, taxes, depreciation and amortization (EBITDA) and $1-billion in free cash flow last year.
…LOBLAWS and Shoppers Drug Mart, I do advise you, your Pharmaceuticals Depo. might be into problems sooner or later with me…!