• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

UK flags competition concerns on $5-bln Konecranes-Cargotec merger

Mark White by Mark White
November 26, 2021
in Cargo
0

General view of the Finnish industrial crane maker Konecranes headquarters in Hyvinkaa, Finland, October 1, 2020. Markku Ulander/Lehtikuva/via REUTERS

Register now for FREE unlimited access to reuters.com

Nov 26 (Reuters) – Britain’s regulator on Friday flagged competition concerns on a deal between Finnish firm Konecranes (KCRA.HE) and cargo handling machinery maker Cargotec (CGCBV.HE), saying it would lead to UK customers having fewer alternative suppliers.

The companies provide container handling equipment and services to port terminals and other industry customers globally.

They announced a merger of equals in October 2020, giving them then a combined market value of around 4.5 billion euros ($5.06 billion).

Register now for FREE unlimited access to reuters.com

The Competition and Markets Authority (CMA) launched an investigation into the deal in July, its first in-depth probe done in parallel with a review by the European Union since Brexit.

In its provisional findings, the CMA said it was concerned the deal could lead to lower service quality or higher prices for port terminals.

“Our competition concerns need to be addressed to ensure that these customers are not worse off as a result of the deal, and there is no negative impact on UK consumers and businesses,” Chair of the CMA inquiry group, Martin Coleman, said.

The companies said they were in dialogue with regulators and expect the merger to complete in the second half of next year.

The final report by the CMA is due by April 1.

A decision by EU antitrust regulators, which launched a full scale probe in July over similar concerns raised by the CMA, is due by Jan. 13.

Register now for FREE unlimited access to reuters.com

Reporting by Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles.

Source link

Previous Post

India rupee at 3-week low, yields fall on new COVID variant concerns

Next Post

Novo Nordisk expects slower sales growth due to China insulin drop

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post
Latam e-commerce giant MercadoLibre revenue soars on pandemic-led boom

Novo Nordisk expects slower sales growth due to China insulin drop

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News