Tessenderlo and Picanol abandon merger talks

摘要

Belgian fertilizer and specialty chemicals producer Tessenderlo Group and Belgian engineering company Picanol have abandoned merger talks after failing to receive the backing of shareholders. The proposed merger was frst announced in December 2015. A spokesperson for Picanol group said merger talks fell through after an extraordinary general meeting of Tessenderlo Group shareholders in January could not record a 75pc majority approval vote for the merger because of the lack of a quorum (the legally required minimum number of attendees).