Alteration Earth, a special purpose acquisition company, failed to acquire Verdant Earth Technologies, a green energy solutions company, for £125m ($161m). "We are disappointed that we have not been able to complete the transaction with Verdant, but the Board has determined that termination of these discussions is in the best interests of our shareholders. Whilst this will come as a disappointment to our shareholders, they should feel enthused by the positive discussions we have held with several other potential acquisition targets, which has culminated in one opportunity where we are currently negotiating non-binding heads of terms. We hope to announce a positive update on these negotiations in the coming days," Matthew Beardmore, ALTE Director.