date:Sep 13, 2013
Shoppers Drug Mart Corp (SC.TO) shareholders on Thursday voted overwhelmingly in favor of Loblaw Co Ltd's (L.TO) C$12.4 billion ($12.02 billion) bid to buy Canada's largest pharmacy chain.
The deal with Loblaw, Canada's largest food retailer, was approved by 99.89 percent of the votes cast by shareholders at a special meeting.
The pending transaction is Canada's biggest merger deal so far this year and comes at a time when Canadian grocers are under increasing pressure from U.S. competitors li