The British antitrust authority preliminarily rejects the merger plan between Cargotec and Konecranes
CMA believes that it would lead to a reduction in competition, particularly in the segment of the production of port vehicles
November 26, 2021
According to the CMA, the negative effects would consist, among the others, in the increase in prices and in the decrease in quality.
Cargotec and Konecranes, who have announced their project of merger over a year ago (
of the 1st October 2020), have highlighted that cma is a preliminary pronouncement, means used by the authority To consult the parties involved in the merger and the other interested parties, and have stated that they do not agree with the preliminary conclusions of the CMA.
The two companies have also announced that they are continuing dialogue and cooperation with other competent authorities in competition matters, including the European Commission and the U.S. Department of Justice, and are looking at ways to mitigate some of the concerns raised by the project and raised by various antitrust authorities.
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