 "Lack of succession plans pushing Shriram towards merger, say staff")
IDFC Ltd and Shriram Group on Monday called off a potential merger. In a BSE filing, IDFC stated that despite best efforts, IDFC Group and Shriram Group have not been able to reach common ground on a mutually acceptable swap ratio for the merger.
Accordingly, both parties have agreed to call off discussions on a potential merger and the exclusivity period pursuant to the CES Agreement entered into between the concerned parties stands terminated with immediate effect.
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