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City Pacific withdraws merger proposal for MFS

by Staff Reporter2 minute read

City Pacific Limited has withdrawn its merger proposal for investment and funds management company MFS Limited.

According to a statement released by City Pacific’s CEO and managing director Phil Sullivan today the company informed MFS that it intended to withdraw the merger proposal late on Friday evening.

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While discussions continued over the weekend, both parties were unable to reach an agreement to proceed with the merger.

City Pacific, a leading financial services company, announced the merger proposal just last Monday.

The enterprise value of the transaction would have been worth around $1.33 billion.

Published: 21-01-08 

 

City Pacific withdraws merger proposal for MFS
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