The ailing funeral organization Yarden and market leader DELA have formally withdrawn their takeover notification, the Authority for Consumers & Markets (ACM) reports Thursday.

This means that DELA's takeover plan, which it canceled earlier in October, has now been definitively canceled.

Yarden has been in financial difficulties for some time.

To get more air, Yarden wanted to adjust 390,000 so-called package policies.

A number of policyholders then went to court, so far with success.

A takeover by DELA would save Yarden.

However, the envisaged adjustment of package policies was an obstacle, as this process could potentially take years.

Yarden is allowed by the financial complaints institute Kifid to unilaterally change the conditions of an old package policy, the Disputes Committee ruled on 6 October.

The Kifid decided not to pay attention to the decision of the judge, because that decision "is no more than a preliminary injunction and contains no substantive judgment".

"There is still a judge to look into the substance of this case in response to the preliminary ruling of the preliminary relief judge. We have already done that."