TORONTO — Pharmacy operators across Canada will be hit hard by lower generic drug prices set to take effect this spring, said Metro Inc. chief executive officer Eric La Fleche. The pan-Canadian Pharmaceutical Alliance — which represents the provincial, territorial and federal governments — and the Canadian Generic Pharmaceutical Association announced late last month that
MONTREAL — Metro Inc. has wrapped up financing for its $4.5 billion (Canadian) deal to acquire the Jean Coutu Group. The Canadian food and drug retailer updated the status of the Jean Coutu acquisition on Tuesday in reporting its fiscal 2018 first-quarter results. Metro said sales rose 4.7% year over year to $3.11 billion, while
VARENNES, Quebec — Retail network sales rose in the fiscal 2018 third quarter at the Jean Coutu Group, which posted declined corporate sales and earnings. On Thursday, the company also reaffirmed the closing timetable for its acquisition by Canadian food and drug retailer Metro Inc. The $4.5 billion (Canadian) Jean Coutu-Metro merger transaction, announced in
MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the sale of the pharmacy chain to fellow Quebec retailer Metro Inc. A near-unanimous 99.9% of votes cast sanctioned the $4.5 billion transaction, which was well above the two-thirds requirement. Shareholders of Coutu are being offered a combination of cash and stock worth about $24.50 per
MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the planned sale of the pharmacy chain to Quebec food and drug retailer Metro Inc. Jean Coutu said Wednesday that a near-unanimous 99.9% of votes cast sanctioned the $4.5 billion (Canadian) transaction, which was well above the two-thirds requirement. Under the Jean Coutu acquisition deal, the
MONTREAL — The acquisition of the Jean Coutu Group by Metro Inc. will create a $16 billion food and drug retailer with 1,307 stores in Quebec, Ontario and News Brunswick. Metro has agreed to purchase Coutu for $24.50 per share in cash and stock in a total deal valued at $4.5 billion ($3.6 billion U.S.).
MONTREAL — The Jean Coutu Group is in advanced negotiations for a potential acquisition by food and drug retailer Metro Inc. Jean Coutu and Metro confirmed the discussions noontime on Wednesday after the Investment Industry Regulatory Organization of Canada (IIROC) said in the morning that trading of shares for both companies had been halted. Under
NEW YORK — As much as the chain drug industry has consolidated, there is room for more mergers and acquisitions. That’s evident from the M&A speculation swirling about the sector in the U.S. and Canada, as well as recent activity. Lending credibility to the speculation is none other than Walgreens Boots Alliance (WBA) chief executive