SANTA ANA and WHITTIER, Calif. — Orange County's Credit Union and Credit Union of Southern California have agreed to discontinue merger negotiations a little over a month after discussions began.
In a brief statement released Dec. 21, the board of directors of the $827 million OCCU and $484 million CU SoCal said they have halted any further merger discussions. Both had announced in mid-November last year that preliminary discussions were taking place, but that "much due diligence" was needed before a definitive agreement could be reached.
A spokeswoman at CU SoCal said she could not provide any further details on why negotiations had come to an end.
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