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Article: Taisho and Tanabe call off merger.
- Article from:
- Nutraceuticals International
- Article date:
- January 1, 2002
CopyrightCOPYRIGHT 2002 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Japanese firms Taisho Pharmaceutical and Tanabe Seiyaku have abandoned their previously-announced plan to merge through the establishment of a joint holding company (NI vol 6, no 10). If the deal had gone ahead, the value of the new entity would have been 345.10 billion yen ($2.94 billion).
The decision to call off the merger reflected differences in the two companies' management approaches to restructuring and in their corporate structures. The two firms issued a statement saying that, "after intense discussions, we came to the conclusion that it would be difficult for us to take advantage of the two companies' specialities and strengths to improve our ...