Both WIFAG and manroland, yesterday, issued short statements about ending acquisition negotiations. Back in February 2010, manroland announced it was pursuing the purchase of WIFAG, a Swiss-based developer of newspaper presses and technology. WIFAG had earlier indicated its need to find a business partner.
The statements from both companies indicate, that during negotiations, it was not possible to satisfy the interests of each company through acquisition. Both companies also indicated they plan to continue cooperating on a technical level.
According to WIFAG’s statement, “Based on the findings of the last three months, WIFAG will now realize a service business model independently.” The statement concluded, “negotiations are being carried out in relation to the sale of individual processing centers in parallel to the restructuring process.”