EU Watchdog Digs Deeper Into Cargo Companies' Merger Plan

Law360 (July 6, 2021, 5:51 PM EDT) -- Europe's competition watchdog says it launched an in-depth review of the planned merger between two Finnish cargo companies after they declined to make any up-front commitments to allay concerns over the impact on shipping container markets.

The European Commission's in-depth probe will focus on the ramifications of combining Cargotec Corp. and Konecranes PLC under a deal unveiled in October. If successfully merged, the companies would have total annual estimated sales of €7 billion ($8.27 billion).

But the EU watchdog said July 2 that it was opening a Phase II investigation, which occurs if the initial review does not result in a...

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