Kirin Holdings said on Monday it had terminated talks with Suntory Holdings after Japan’s two top beverage makers were unable to agree on a merger to create the world’s fifth-biggest foodmaker, reports Bloomberg. Suntory wanted a ratio of about 0.9% of a share for each Kirin share in a new holding company, said a Suntory executive. That would have valued Suntory at Y892bn yen ($10bn) based on Kirin’s last closing price. The companies announced merger talks last July.

This entry was posted by Gwen Robinson on Monday, February 8th, 2010 at 4:00 and is featured in The 6am Cut London (8 Feb 2010) . Tagged with Kirin, Suntory. Edit this entry.