Aleris, Zhongwang USA scrap $2.33b merger after regulatory snag

Aleris, Zhongwang USA scrap $2.33b merger after regulatory snag

China Zhongwang Holdings Chairman Liu Zhongtian toasts during the debut of Zhongwang Holdings at the Hong Kong Stock Exchange May 8, 2009. REUTERS/Bobby Yip

Zhongwang USA, an investment firm backed by a Chinese tycoon, has called off its planned acquisition of U.S. aluminum maker Aleris Corp after failing to win U.S. government approval, the companies said on Monday.

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