Loblaw enters into EQB share purchase plan following PC Financial deal

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BRAMPTON — Loblaw Cos. Ltd. has announced it has entered into an automatic share purchase plan to acquire common shares of EQB Inc.

Under the share purchase plan, Loblaw’s broker may acquire up to a maximum number of EQB common shares that, when combined with shares already purchased, equates to the lesser of 10.6 million shares or 24.9 per cent of the issued and outstanding EQB shares.

Loblaw says outside of the share purchase plan period, additional shares may be purchased at its discretion.

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Earlier this month, EQB announced it had completed its acquisition of PC Financial, while adding two Loblaw nominees to its board.

In the coming months, EQB and Loblaw will begin to transition PC Bank clients to the EQB Bank platform.

EQB said it would acquire PC Financial in December and that it would pay $800 million in shares and cash, while Loblaw would take about a 16 per cent stake in the bank and EQ would become the exclusive financial partner of the PC Optimum loyalty program.

This report by The Canadian Press was first published July 14, 2026.