The planned merger between Stamford investment bank M.M. Dillon & Co. and San Diego equity researcher-trader Caris & Co. is off, victims of the roiling equity-capital market, the parties say.
The delay in closing the merger also was a factor, the firms said Tuesday. They have withdrawn their merger application pending before securities-dealers regulators.
Dillon's niche is advising CEOs and boards in the healthcare, technology and energy sectors.