Dutch publishing giant VNU is locked in a stalemate with U.S. pharmaceutical research company IMS Health over how to terminate its $7 billion planned acquisition of IMS, The Wall Street Journal reported today.
Holders of nearly half of VNU's shares have said they would turn down the plan to buy IMS, forcing VNU to find a way to abandon its agreed purchase of IMS.
After holding talks, the two companies can't agree on terms to end the deal, the newspaper reported.
VNU said early today that it is "having wide ranging discussions with IMS" to address the development.
In a statement, VNU said that "although both companies continue to believe the transaction, as negotiated, is in the best interests of their respective shareholders, the companies have discussed various possible alternatives, including a revised merger agreement as well as termination of the agreement."