Cannabis firm sues shipper
Check your travel medical
New orca rescue attempt
No bail in Ottawa killings 
Banks must say rebate 
Regulating power prices
Iran fires at attack drones 
World's largest election 
2 detained in Volkov attack 
Apple pulls apps from China
Oil and gas leases restricted
Indigo needs turnaround 
Warriors ready for Round 2
Kalamalka Bowl cancelled
Rockets live to fight on
Hilton teams up with Sia
Swift still 'can't forgive' Kim
Grimes to ‘cap the disarray’
Dye & Durham Ltd. says it has called off its proposed acquisition of Australian company Link Administration Holdings Ltd.
Dye & Durham CEO Matthew Proud says the company is disappointed after the significant time and resources it invested in the deal.
Questions about the future of the deal were raised earlier this week after a U.K. regulator assessed a 50-million-pound penalty against Link Group in addition to a potential restitution payment of up to about 306 million pounds.
Toronto-based Dye & Durham said the draft notice from the U.K. Financial Conduct Authority (FCA) triggered a condition in its takeover agreement.
It had sought to revise its takeover agreement after the FCA said it would not approve the deal unless it covered any shortfall, up to a maximum of 306 pounds million, related to any payments the FCA might levy in its probe into the collapse of a fund that was managed by Link Fund Solutions Ltd.
However, Link Group rejected the proposed changes to its agreement with Dye & Durham.
