T&N merger options collapse
Tue Nov 22, 2016 11:23 am
Merger talks between multi-national T&N collapsed today, requiring a massive 160% floater to be retracted up the shoot.
Despite promising initial signs, people familiar with the negotiations indicated that the merging tank flotation is no longer progressing after interventions from corporate lawyers P.J. Sleepwear related to recently updated FANDAQ rulings.
The news will come as another major disappointment for T CEO, Bruce Vigginson, with his company now abandoning 3 merge flotations in the past 5 months, first with O Llp, then with Cuppa plc, and now with N.
Both T&N shares slumped rapidly after the announcement, before moderately rebounding.
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