India, June 10 -- Payton Planar Magnetics Ltd. (PAY.BR) and its parent company, Payton Industries Ltd., said Wednesday that they have decided to terminate negotiations on a proposed merger.
The companies said they concluded that shareholder approval for the transaction at the proposed terms was unlikely to be achieved, particularly following the rise in the share prices of both companies and feedback received from the market.
Under the proposal announced on April 6, 2026, shareholders of Payton Planar Magnetics would have received 7.38 euros in cash for each share they held through a triangular merger transaction.
The companies said they will continue to operate as separately listed entities for the time being and may revisit the possibi...