05:05 AM EST, 02/07/2025 (MT Newswires) -- (Updates with response from Nissan in the last paragraph.)

Honda Motor ( HMC ) and Nissan Motor's merger talks will end after the two Japanese automakers failed to agree on the terms of any deal, Nikkei Asia reported Wednesday.

Nissan will withdraw its December memorandum of understanding on an intent to integrate the companies, the report said.

The two companies disagreed over the valuation of each side, with Nissan rejecting a proposal to become a Honda ( HMC ) subsidiary, the report said.

It remains unclear whether the two sides might restart talks, the report said.

A Honda ( HMC ) spokesperson said the companies are "still in discussions, and we'll provide more details at the appropriate time." Nissan said, "Kindly wait till mid-February for further comments."

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