Loblaw Must Sell Stores To Seal $12B Shoppers Deal

Law360, New York (March 21, 2014, 2:32 PM EDT) -- Canada's antitrust watchdog said Friday it will allow Loblaw Cos. Ltd.’s CA$12.3 billion (US$11.9 billion) Shoppers Drug Mart acquisition to move forward if the grocery giant sells off 18 retail stores and nine pharmacies.

Under the terms of the consent agreement, the Canadian Competition Bureau will also require Loblaw to follow “behavioural restrictions” on its programs and agreements governing the supply of products sold in its stores for five years, according to a statement.

The deal resolves the Competition Bureau’s antitrust concerns that the acquisition, which...
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