Rona Focuses on Media Relations After Failed Lowe’s Bid
Negative sentiment spiked in Lowe’s word cloud after it was announced that the home improvement chain had walked away from their offer to purchase rival Canadian home construction store, Rona, earlier this afternoon. The term in question was [Rona] and after a few clicks it was determined that the spike was a direct result from the failed acquisition earlier today. After the announcement, Rona stock prices fell more than 12 percent. This was the lowest decline since the stock’s initial offering in 2002.
Lowe’s stock prices held firm with a less than 1 percent decrease. We posted a few months ago about Lowe’s innovative strategic partnerships and acquisitions, including one with a monitoring company. More than 186 negative broadcast clips are currently available that cover the Rona story, including several multilingual videos in French. Much of the criticism is towards Rona and the investment team’s lack of bargaining power. We’ll be interested to view Rona’s public response, which is available within the AllMedia platform, to be edited and shared within their organization, or those tracking their searches.
Social media sources are also discussing Rona. Negative sentiment is largely across Twitter, with most analysts and commentators speculating that the “door was slammed” in their face. There has been no response to the events on Rona’s official Twitter page.
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