Bureau Veritas and Geneva-based SGS, two leading companies in the testing, inspection, and certification (TIC) sector, have announced the end of their merger discussions. The potential $30 billion merger, which could have created a dominant player in the industry with combined revenues of approximately €13 billion and a market capitalization of €31 billion, has been called off. Both companies confirmed that the talks, initiated in mid-January after being revealed by Bloomberg, did not result in an agreement. Bureau Veritas plans to focus on its LEAP 28 strategic plan, targeting moderate to high single-digit annual organic growth and improved operating margins by 2028. Similarly, SGS will continue with its Strategy 2027, aiming for 5-7% annual organic growth and enhanced operational margins. The merger's termination comes amid skepticism from analysts about potential negative synergies and integration challenges. Following the announcement, Bureau Veritas' shares fell by 2.9%, while SGS' shares rose by 4.5%.