WestLB on merger deadline after BayernLB walks away
WestLB, the struggling German Landesbank, was dealt a blow on Thursday when its peer BayernLB ended talks about a possible merger of the two lenders after only six weeks of negotiations.
The rejection leaves WestLB in the difficult position to find a buyer by the end of September 2011 under EU state aid rules. Should it not succeed it may be forced to wind down its business by 2012.
"WestLB notes with regret the decision to suspend the talks
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