Morrisville, N.C.

Lowe's said Monday it has withdrawn its bid to purchase Canadian home-improvement retailer Rona. The $1.86 billion unsolicited acquisition proposal had earlier been rejected by Quebec-based Rona, which said the offer was not the best deal for its shareholders. The proposal generated discord among Rona's dealer companies, many of whom threatened to sever their ties with Rona should Lowe's succeed in its acquisition attempt. In a Monday statement, Lowe's said

Best Buy has completed the acquisition of mindShift Technologies. The acquired firm will operate under its current name, management team and capabilities, which include approximately 500 employees. According to a press release, mindSHIFT has been providing IT outsourcing and cloud managed services for small and mid-size businesses for more than 10 years.