JLC's Binex merger plan hit snag

JLC says that it has failed to acquire Binex due to opposition of its large shareholders, although both companies signed a take-over contract with Binex, a biopharmaceutical firm on January 12.

JLC is keen on Binex's management and shares instead of investment on research and development projects, said a senior official of Binex.

BINEX started its name of Soon Chun Dang but it was changed...