China Mengniu Dairy terminates the acquisition of Lion Dairy & Drinks from Kirin for $419m.

China Mengniu Dairy, a manufacturing and distribution company of dairy products and ice cream, terminates the acquisition of Lion Dairy & Drinks, the Australian beverage unit of Kirin, an integrated beverages company, for $419m. The termination came after Mengniu was told that the deal would likely be blocked, amid increasingly strained relations between Canberra and Beijing.