Deals
Guolian, Sinolink End Plan to Create $13 Billion Broker
- Firms say they couldn’t agree on terms to cinch a buyout deal
- Industry undergoing consolidation as competition set to rise
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Guolian Securities Co.’s effort to acquire bigger rival Sinolink Securities Co. has ended after the firms couldn’t agree on terms to create a $13 billion Chinese broker in the consolidating industry.
Sinolink had agreed to be bought in an all-stock deal announced Sept. 20, but specific details for the combination couldn’t be agreed to, the companies said in separate but identical stock exchange filings late Monday.