Loblaw's (LBLCF.PK) C$12.4B ($11.93B) acquisition of Shoppers Drug Mart (SHDMF.PK) will create a...

|About: Loblaw Companies Limited (LBLCF)|By:, SA News Editor

Loblaw's (LBLCF.PK) C$12.4B ($11.93B) acquisition of Shoppers Drug Mart (SHDMF.PK) will create a company that generates over C$42B a year and comes amid increasing competition from Target (TGT) and Wal-Mart (WMT). "With scale and capability, we will be able to accelerate our momentum and strengthen our position in the increasingly competitive marketplace," says Loblaw Executive Chairman Galen Weston. (PR)