IPC Financial Network Inc. said Monday the proposed acquisition of IPC by Dundee Wealth Management Inc. did not close on April 25, the outside date contemplated by the merger agreement between the two companies.

Either party may now terminate the merger agreement at any time. IPC said is currently considering its options in connection with the proposed transaction, which include the termination of the merger agreement.

“Certain outstanding closing conditions, including the condition that Dundee Wealth be satisfied with the status of certain regulatory approvals and other matters in respect of certain actions previously undertaken by former principals of KPLV Securities Inc. (which IPC acquired in 2001), remain unsatisfied,” IPC said in a statement.