Loblaw to buy Shoppers - MoneySense

Loblaw to buy Shoppers

Deal worth $12.4 billion in cash and stock plus other stories.

  • Loblaw Companies Ltd. has a friendly deal to purchase Shoppers Drug Mart Corp.  for $12.4 billion in cash and stock, combining Canada’s largest grocery and pharmacy chains. The proposed sale represents a nearly 30% premium over Shoppers closing share prices Friday. For the very latest, head over to Canadian Business. And for those wondering what will happen to their Optimum points, Shoppers says there are no changes to the loyalty program planned at the moment.
  • Speaking of loyalty programs, COLLOQUY and Environics Research Group have published a new online tool that promises to reveal the best loyalty program for you based on your spending habits.
  • A recent HSBC study has found that men are more likely to dip into their retirement savings during tough times than women (27% vs. 23%). One-third would tap other savings/investments while roughly 20% would downsize their home, 17% would sell valuables and 18% would borrow. The study also found only 40% of Canadians are regular savers.
  • Here’s another interesting stat for you: 22% of Canadians in a romantic relationship polled fora recent TD study said they are not always completely honest with their partner about money.