EVANS & TATE ISSUES A FINAL “NO.”

Evans & Tate has severed its agreement to merge with U.S. company Yarraman Winery after Yarraman failed to provide “satisfactory evidence” that they had secured enough funds to complete the transaction.

"In these circumstances, the board of Evans & Tate has resolved today to terminate the agreement with Yarraman," said E&T.

The company is now ready to take other proposals.

According to the company, Yarraman still isn’t taking “no” for an answer and plans to continue “communication” with E&T.