Key List of News:
RON:
* Appoints Robert Chevrier as Executive Chairman to replace Robert Pare * 4 New directors will join immediately (8 new members in total) * To prevent showdown with shareholders with regards to company struggles * Current chairman (Robert Pare) will remain, two directors are resigning * Chevrier made his name as turnaround specialist with Westburne * Plans to focus on Rona’s operations ( Downsize to profit, cut loose underperforming business) * Indicate which business to sell in the financial results in Feb ( possible to Lowe’s)

MRU: Selling Alimentation Couch and possible acquisition * Selling Alimentation Couch Tard to BMO, National Bank, and TD for $479 million * Total of 10 million Class B shares for $47.90 per share * Able to monetize 48.2% of its 1 billion investment in Couche * After sale, Metro will have 10.7 million Class A shares * Gained 5.7% economic interest and 17% voting interest * Evaluating how to use proceeds, ie growth investment and dividends * After selling its stake in Alimentation Couche, Metro may be looking to target Safeway, Overwaitea, Familiprix, and Jean Coutu, Rexeall pharmacy, Uniprix pharmacy * BMO analyst Karen Short suggested Safeway to consider selling due to interest and potential bidding war * Grocery consolidation may be influenced by Wal-Mart’s expansion announcement * Metro may also use proceeds to buy back shares and pay down debt *