Merger talks scrapped
Equity Trustees and Trust Company have broken off their merger talks.
The companies announced to the Australian Securities Exchange today that the preliminary discussion surrounding the merger had ceased, with the parties apparently unable to reach agreement on some fundamental terms.
Commenting on the situation, Equity Trustees chairman Tony Killen said that at the outset the Equity Trustees board determined that the merger would only proceed if it was confident the terms agreed upon would provide shareholders with a fair outcome.
“Regrettably, we have not been able to reach a conclusion that meets these criteria,” he said.
AUTHOR
Mike Taylor
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