IDFC Group said on Monday that talks to acquire some of Shriram Group`s financial services businesses have been called off.
"The companies were not been able to reach common ground on a mutually acceptable swap ratio for the merger," IDFC Group said in a stock exchange filing.
The agreement was aimed at merging some of Shriram Group`s listed companies including consumer lender Shriram Group City Union Finance
Shriram Group said the parties could not mutually agree on structure and valuation.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.