WICHITA — Prudential Dinning-Beard's deal to acquire Stucky and Associates is off.
Prudential president Willie Kihle notified his staff in an e-mail today.
"I told them the only thing I can say," he says. "Outside entities have presented some issues that . . . can't be resolved."
Kihle won't say what those issues are. Stucky chief executive Frank Stucky didn't return calls for comment.
"I would assume that if there's a story there, he needs to tell it," Kihle says.
His e-mail to employees referenced events that happened over what he called "the last few hours."
"Due to issues beyond our control that we were not aware of, this transaction is not going to take place," he said.
Co-owner Mona Stein also signed the letter.
"Obviously, we're disappointed," Kihle says. "We certainly hoped that we would be able to do this."
The deal would have made Prudential the largest residential real estate company in Kansas, Kihle and Stucky previously said.
Stucky has 155 sales professionals; Prudential has 305.
"That's a large move," Kihle says of the number of agents that would have been involved.
"Obviously, the size of this opportunity was rare."
But he says there will be other opportunities for his company.
"This was not outside of our . . . business strategy."