Shareholders to Shelve Charles River's Merger with Wuxi PharmaTech

Charles River Laboratories Inc, a US pre-clinical and clinical laboratory, has had its investors' second opposition to a $1.6 billion takeover bid for Chinese drug maker Wuxi PharmaTech Inc (NYSE: WX). Industry watchers have argued that the deal was likely to be aborted, but chairman and CEO James Foster said he was confident of getting it through the board. Should it succeed, the merger would help Charles River fast track success in China.