In a joint statement released the same day, Honda acknowledged that it proposed to divert from its original intention of forming a joint holding company to one where "Honda would

Nissan and Honda ended merger talks to forge a $60 billion car company on Thursday, pitching Nissan deeper into uncertainty and highlighting the pressure on legacy automakers from Chinese rivals upending the industry.

Less than two months after a potential merger was floated, Honda and Nissan have called the potential partnership off, forcing Nissan, which has been experiencing difficulties, to explore alternate collaborations.

It's no secret that Nissan was unhappy with Honda's terms to potentially merge, but insiders have detailed just what broke the relationship.