8 April 1999: Viag AG and Swiss industry group Alusuisse Lonza Holding AG confirmed that their merger had collapsed.
Amid growing differences between the two companies over pricing, Viag of Germany…
8 April 1999: Viag AG and Swiss industry group Alusuisse Lonza Holding AG confirmed that their merger had collapsed. Amid growing differences between the two companies over pricing, Viag of Germany announced after a supervisory board meeting that it “presumes the merger of Viag and Algroup will not take place in the manner previously anticipated.” The DM 14.6 billion (US$ 8.04 billion) merger plan was initially announced last November. Shares in Viag – a German conglomerate that produces electricity and glass, trades in steel and is entering into telecommunications – jumped 6.5% to 511 Euros (US$ 550) each in Frankfurt recently. Shares of industry and chemicals maker Algroup rose 2.3% to SFr 1,660 (US$ 1,122) each.