Charles River Calls Off Merger with Wuxi PharmaTech
July 30, 2010 at 10:49 AM EDT
The proposed merger between Charles River Laboratories and WuXi PharmaTech has been canceled. Citing investors concerns about uncertainties surrounding the deal, Charles River has officially withdrawn its $21.25 cash and stock offer for all of WuXi’s shares. The large American firm must now pay its China counterpart a $30 million breakup fee. More details.... Stock Symbols: (NYSE: CRL) (NYSE: WX)