TSX:RON.PR.B - Post Discussion
Post by
vessob on May 29, 2012 2:24pm
Norman Levine BNN May 23, 2012
Norman Levine was asked about RONA on BNN on May 23, 2012. This is what he had to say:
Rona is one where I'm thinking it could be the next Canadian Pacific. What I mean by that is this is a company that has destroyed shareholder value over the last 5 years by 50%. Same management, same board of directors, and the majority shareholders, of which we are one, are starting to say 'things have to change here". And one thing that could change is that Lowes, a major competitor moving into Canada has said they would be interested in talking to Rona about somekind of venture or deal, and Rona has shut the door on them completely. I'm actually privy to some e-mail conversations between the two companies where Lowes has tried to get together with them - Rona said they would and then shut the door when they said they would - and the shareholders are not happy. Rona stock has a value between $15 - $17 we believe.
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