Charles River Calls Off Merger with Wuxi PharmaTech

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 Citing investors concerns about uncertainties surrounding the deal, Charles River has officially withdrawn its $21.25 cash and stock offer for all of WuXi’s shares.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)