The Globe and Mail reports in its Wednesday, Oct. 21, edition that Matthew Proud's MAK Acquisition on Tuesday delivered a notice of termination to UniUni, officially known as Uni Express, of a May purchase agreement between the two entities. The Globe's Sean Silcoff writes that Mr. Proud, the former chief executive officer of Dye & Durham, is CEO of MAK. MAK warned UniUni last month that it might exit their deal due to the delivery company not meeting commitments, specifically regarding limiting its pretax loss to a defined maximum. UniUni said last month after receiving the notice of breach that it had entered into a term sheet for a new private funding round led by an existing investor to support its continued growth. MAK said it will renew its search for a new acquisition target, saying that it is seeking "niche-market businesses providing critical solutions, with strong revenue retention and diversified customer bases." MAK and UniUni announced their proposed deal five months ago that would have valued the combined entity at more than $1-billion (U.S.). UniUni operates a low-cost, last-mile delivery service that focuses on high-volume, low-margin Asian e-commerce merchants Shein, Temu and TikTok.