Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

P&G Ends Merge Talks




NEW YORK -- Procter & Gamble Co. has ended talks for a three-way merger with Warner-Lambert Co. and American Home Products Corp. after a sharp stock price drop signaled that investors did not support a deal.


P&G said the deal could have been a blockbuster combination, but said the three-week-old talks collapsed Monday because of leaks and speculation.


Yet that explanation was described as "a wimpy excuse" by one trader.


If the merger made sense, he said, the company should have had the "intestinal fortitude to defend the deal."


P&G's shares fell more than 15 percent in the past few days after reports of a possible deal emerged.