Charles River Ends $1.6B WuXi Buyout

Xconomy Boston — 

Charles River Laboratories International (NYSE:CRL), a provider of lab mice and drug research services, said yesterday that it nixed its plans to acquire the China-based contract research juggernaut WuXi PharmaTech (Cayman) (NYSE:WX) for $1.6 billion due to lack of support for the deal among its shareholders. Wilmington, MA-based Charles River is paying WuXi a $30 million breakup fee. In the meantime, its board of directors has authorized the repurchase of $500 million in Charles River stock.