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Metro Inc.

Canadian drug chains to take hit from generic price cuts

Canadian drug chains to take hit from generic price cuts

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

Metro completes Jean Coutu acquisition financing

Metro completes Jean Coutu acquisition financing

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

Jean Coutu retail network sales climb in 3Q

Jean Coutu retail network sales climb in 3Q

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

Shareholders OK sale of Jean Coutu Group

Shareholders OK sale of Jean Coutu Group

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

Jean Coutu shareholders OK acquisition by Metro

Jean Coutu shareholders OK acquisition by Metro

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

Metro agrees to acquire Jean Coutu Group

Metro agrees to acquire Jean Coutu Group

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.).

Jean Coutu in talks to be acquired by Metro

Jean Coutu in talks to be acquired by Metro

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

More M&As expected to shake up retail Rx

More M&As expected to shake up retail Rx

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