Pilkington PLC, the glassmaker, is preparing to issue a statement saying that takeover talks with Nippon Sheet Glass have failed, the Sunday Telegraph reported. 'The advice from the bankers is that this deal isn't going to happen,' the newspaper quoted someone who knows the UK company as saying.
It added that as Nippon owns 20 pct of Pilkington's shares an alternative offer is unlikely.
Pilkington rejected a proposal worth 158 pence a share, or 2.1 bln stg, on Dec 15, having earlier turned down approaches worth 150 pence and 155 pence.
A spokesman for Pilkington declined to comment.