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May 31, 1998

Jilted lovers

What to say when a merger collapses? Convincing the financial community that two separate stories are better than one could be a hard task

Identifying the real reasons behind a failed merger is like searching for a black box in the wreckage of a passenger jet deep in the jungle. Theories abound until the real truth comes out, and there are countless questions from the backers of this maiden flight: will such a hybrid ever leave the runway again? Did the regulators send out heat-seeking missiles? And why were the co-pilots squabbling in the cockpit at 40,000 feet and cruising? Suffice to say, it can be difficult enough for observers

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