A proposed merger between Nissan and Honda Motors was called off just months after the automotive rivals announced their intentions to combine resources to address the industry’s evolving challenges.
The proposed deal has been among a string of high-profile Japanese companies looking to maximise shareholder returns by spinning off their assets or streamlining their operations to become more competitive. After Japan’s Seven I Holdings rejected a bid from Canada’s Alimentation Couche-Tard ACT last year, the parent company of 7-Eleven convenience stores said it will IPO its North American business while selling down its ownership in Seven Bank to deconsolidate from the group’s balance sheet and appoint its first foreign CEO...
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