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Kawasaki Heavy ends Mitsui merger talks, demotes president
June 13, 2013 / 12:45 PM / in 4 years

Kawasaki Heavy ends Mitsui merger talks, demotes president

TOKYO, June 13 (Reuters) - Kawasaki Heavy Industries Ltd said on Thursday it had ended merger talks with shipbuilding rival Mitsui Engineering & Shipbuilding Co Ltd and demoted its president, Satoshi Hasegawa, who supported the discussions.

In a rare public dismissal in a country where boardroom tussles are often kept private, Kawasaki Heavy said in a news release that Hasegawa would return to being a director at the heavy machinery maker and be replaced by Vice President Shigeru Murayama. (Reporting by Tim Kelly and Kentaro Sugiyama; editing by Jason Neely)

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