Here’s the poop:
Standard Parking Corporation announced today that it has terminated discussions to acquire the Illinois and Wisconsin parking operations of System Parking, Inc
With that line, Standard let it formally be known what was rumored for the past two weeks.
The Deal is Off. My spies in the mid west tell me that Standard offered System a great deal of money initially, but as the due diligence began between the two groups, the deal looked less and less promising to System. It takes two to tango, and both sides must agree before a deal is done.