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NO MERGER FOR DESTINATION MATERNITY: Destination Maternity has changed its mind.
The company said Friday it does not intend to make an offer for U.K.-based Mothercare plc. The Philadelphia-based firm said on July 2 that it was interested in combining with Mothercare. It made the statement as required under U.K. Takeover Code because of speculation in the marketplace.
Destination Maternity said that the shareholders and board of Mothercare have not supported its proposal.