The struggling Japanese carmaker is withdrawing from talks, the Nikkei business daily and other local media reported.

The Wall Street Journal reported that Nissan was likely to walk away from a merger proposed in December that would create the world’s third-largest auto maker. It was a

The pair are discussing various options, including the possibility of withdrawing from deal talks, according to statements.

TOKYO — Nissan is set to call off merger talks with rival Honda, a source said Wednesday, abandoning a $60 billion-plus tie-up that would have created the world's No. 3 automaker and raising questions about how it will drive a turnaround by itself.

A proposed $58 billion merger to create the world’s fourth-largest carmaker appears on the verge of collapse after Honda made an unexpected proposal to turn Nissan into a fully owned subsidiary, according to three people familiar with the matter.

Nissan Motor Co. is pulling out of its deal with Honda Motor Co. to combine both brands and regain global competitiveness, the Nikkei newspaper reported Wednesday.

Two of Japan’s largest automakers have been in talks to combine their operations to form one of the world’s biggest car groups.

There's strife of the horizon as Nissan vehemently opposes Honda's suggestion of making the struggling carmaker its subsidiary.

Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion plus tie-up that would have created the

Nissan’s board is planning to reject Honda’s terms for a combination of the two automakers, putting in danger a merger plan announced less than two months ago, people familiar with the matter said Wednesday.