Bloomberg reports that Mitsui Engineering and Shipbuilding would "consider a merger" with Kawasaki Heavy Industries, despite reports of talks falling apart.
According to the news agency, an investor at the company's AGM witnessed the company's outgoing president, Yasuhiko Katoh, say a merger was still an option, though the company could still remain independent.
Katoh said Kawasaki's decision to suspend the merger was "regrettable". Following the meeting, Katoh was appointed chairman of Mitsui.
According to Bloomberg, a deal with Kawasaki would have created a company with sales of 1.9 trillion yen (USD19.4 billion), narrowing the gap with Japan's top maker of heavy machinery, Mitsubishi Heavy Industries.
Source: Bloomberg