Japan: Suntory and Kirin end talks

08 February, 2010

Japan: Kirin and Suntory have ended merger talks.

A statement from Kirin said: “Kirin had been negotiating on the premise that the new entity would be managed as a listed company in order to ensure appropriate management independence and transparency. “However, it became apparent that Suntory held a different view on this matter, and Kirin determined that even if negotiations were to continue, they were unlikely to result in the establishment of a company that would fulfill Kirin's aim of developing as a leading global company and earn the understanding and approval of Kirin's domestic and overseas customers, employees, shareholders and other stakeholders. Kirin therefore resolved to terminate the negotiations.”

A statement from Suntory said: “Suntory determined to terminate the negotiation because, while Suntory studies what the integrated new company should be, Suntory acknowledged discrepancy of understandings of two companies including integration ratio and considered that it would be difficult to realise a desirable new integrated company which Suntory had been seeking for.”





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