LOBLAW COS. IN BID TO ACQUIRE PROVIGO

TORONTO (FNS) -- Loblaw Cos. here, Canada's largest grocer, said last week it plans to strengthen its position with the proposed purchase of Provigo, based in Montreal, for $1.05 billion ($1.62 billion Canadian).The acquisition would give Loblaw a 32% share of the Canadian market, with annual sales of just over $11 billion -- adding $3.9 billion to Loblaw's total of $7.15 billion.According to Pierre

TORONTO (FNS) -- Loblaw Cos. here, Canada's largest grocer, said last week it plans to strengthen its position with the proposed purchase of Provigo, based in Montreal, for $1.05 billion ($1.62 billion Canadian).

The acquisition would give Loblaw a 32% share of the Canadian market, with annual sales of just over $11 billion -- adding $3.9 billion to Loblaw's total of $7.15 billion.

According to Pierre Michaud, Provigo's chairman, "Quebec's food distribution industry is becomin

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