The Vancouver Sun reports in its Wednesday edition Mercator Minerals shares took a hit Tuesday after saying Russian billionaire Mikhail Prokhorov's investment company Onexim Group will not extend a deadline to complete its reverse takeover of the Canadian miner. A Bloomberg dispatch to The Sun says the companies announced in December that Onexim's Intergeo MMC Ltd. would buy Mercator. The deal would give Mr. Prokhorov a stock listing in North America. Intergeo, which earlier agreed to extend the deadline on the deal to Aug. 1, will not agree to a further delay, Mercator said in a statement. Closing was delayed after the Russian Federal Anti-Monopoly Services requested more information. The deal will terminate unless the FAS completes its review before the cut-off date. Intergeo will waive non-solicitation provisions in the agreement to allow Mercator to consider alternatives, which the company did not specify. Mercator closed Tuesday at six cents, down two cents on the Toronto Stock Exchange. It was the Vancouver-based company's biggest drop since Dec. 18, 2008.