(Adds details, background)
LONDON, April 26 (Reuters) - Soft commodity trader Armajaro
is no longer in talks to buy Plexus Cotton Ltd, a medium-sized
cotton merchant, the companies said in a joint statement on
"Discussions have been discontinued by mutual agreement due
to a failure to agree terms," the statement said.
The companies were reported to be close to a deal in
November last year.
Liverpool-based Plexus is in the second tier of merchants in
the small but volatile cotton industry, handling about 800,000
bales a year, according to trader estimates.
Britain's Armajaro Trading, which trades cocoa, coffee and
sugar, is a subsidiary of Armajaro Holdings Ltd.
The parent company, co-founded by Anthony Ward and Richard
Gower, also has an asset management unit as well as subsidiaries
trading financial instruments and vintage wines.
(Reporting by Sarah McFarlane; Editing by Jane Baird)