The Netherlands-based energy companies Nuon and Essent's management and supervisory boards have decided that there is no longer a basis for continuing the merger process. Consequently, the merger has been called off.
In the last few months, Essent and Nuon have jointly examined how the proposed merger of the two companies should take shape. Despite the co-operative stance of both companies during this process, in the end no agreement could be reached on the process of verification of the underlying business data and the corresponding exchange ratio.
The management boards and supervisory boards of Essent and Nuon have come to the conclusion that the conditions for successfully completing the merger are currently not present.