M&A

July 31, 2012, 6:25 PM UTC

Rona Inc. (TSX: RON), a Canadian home improvement chain, has rejected a C$1.8 billion buyout offer from Lowe’s Companies Inc. (NYSE: LOW). Rona said that C$14.50 per share offer was not in the best interests of its shareholders, despite having seen its stock close last Friday at C$10.61 per share.

InMobi, an India-based mobile advertising network, has acquired Metaflow Solutions, a UK-based provider of mobile app management and distribution solutions. No financial terms were disclosed. InMobi has raised around $215 million in private equity funding from Softbank, Sherpalo Ventures and Kleiner Perkins Caufield & Byers. www.inmobi.com

Cinven and Warburg Pincus announced plans to sell a combined 18 million shares in listed Dutch cable operator Ziggo, which would cut their current ownership position from 72.9% to 63.9%. The secondary sale would be valued at nearly $550 million. Ziggo went public in Amsterdam this past March. www.ziggo.com

Treadstone Partners has sold its control stake in Advanced Joining Technologies, a Santa Ana, Calif.-based commercial engineering company focused on the production welding of aluminum alloys, to an undisclosed strategic buyers. No financial terms were disclosed. PPHB advised Treadstone on the transaction. www.ajt-inc.com

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