Kanadevia, Nippon Steel Engineering Call Off Business Integration Discussions; Kanadevia Shares Rise 3%
MT Newswires Live
Yesterday
Engineering company Kanadevia Corporation (TYO:7004) and Nippon Steel Corporation (TYO:5401) subsidiary Nippon Steel mutually agreed to terminate their memorandum of understanding on discussions toward a business integration signed on Feb. 5.
All discussions and deliberations regarding the business integration will cease as it was determined that it was difficult to reach an agreement on the terms and conditions, according to a company filing with the Tokyo bourse on Wednesday.
Shares of Kanadevia Corporation jumped more than 3% in recent trade.
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