In a statement, Housing & Care 21 claimed it could not be confident that the conditions set for the merger with Sanctuary Housing Group would be fulfilled.
According to Housing & Care 21, Sanctuary was clear it did not regard the statement of commitments as legally binding and after trying to seek assurances through the due diligence process, more doubts than assurances arose.
Sanctuary, meanwhile, said it had withdrawn from the merger discussions as its board felt potential operational synergies were not met by an acceptable cultural fit between the two firms.
The group confirmed it would be pursuing alternative merger options as part of its business plan.
Housing & Care 21, however, said it would not be looking to find an alternative housing organisation to merge with.
Instead, it planned to re-focus on maintaining momentum in its own improvement and investment programmes and it remained committed to being the leading provider of housing and care for older people.
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