The megamerger between Honda and Nissan is now officially off following weeks of talks, the two automakers confirmed on Thursday.
“It’s very unfortunate that we could not find the common ground to take a step toward the merger,” said Honda President and CEO Toshihiro Mibe in a news conference.
The automakers explored the deal, which would have created the world’s No. 3 vehicle producer, as a way to reverse their declining fortunes.
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