Charles River Laboratories (CRL +6.4%) and Wuxi PharmaTech (WX) call off their merger agreement...

|About: Charles River Laboratori... (CRL)|By:, SA News Editor

Charles River Laboratories (CRL +6.4%) and Wuxi PharmaTech (WX) call off their merger agreement following continued investor opposition. The $1.6B deal would have been the largest foreign takeover of a Chinese company; instead, Charles River will pay Wuxi a $30M breakup fee and begin a $500M share buyback program. (PR)