The boards of Dutch utilities Essent and Nuon have decided that there is no longer a basis for continuing the merger process.
The two have jointly examined a proposed merger for several months but “despite the cooperative attitude of both companies during this process,” no agreement could be reached on the process of verification of the underlying business data and the corresponding exchange ratio.
The management of the firms have therefore come to the conclusion that the conditions for successfully completing the merger are currently not present.
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