(Reuters) - New Zealand's Comvita Ltd <CVT.NZ> said on Monday that talks with an unnamed third party for a possible takeover of the company have ended without a deal due to a "considerable distance" on price, sending its shares tumbling 7 percent.
The honey maker, whose top shareholder is China Resources Ng Fung, had signed a confidentiality agreement with a possible buyer in April which had been conducting due dilligence.
"In negotiations we could not bridge the considerable distance between us on price and therefore, Comvita Directors unanimously agreed to withdraw from the process," the company said in a statement.
Comvita shares were down about 7 percent, its lowest in nearly 9 months.
(Reporting by Ambar Warrick in Bengaluru; Editing by Richard Pullin and Edwina Gibbs)
