Daejin Advanced Materials (KOSDAQ:393970) withdrew its planned merger with YMP Lighting after a creditor of the latter opposed the transaction, according to a Thursday filing.
The company's board decided to halt the transaction following an internal review and agreed with YMP Lighting to terminate the merger agreement.
Daejin had approved the small-scale merger on April 29 and signed the merger agreement on April 30.
The merger had been scheduled to take effect on Oct. 1.
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