According to the Authority, the measures offered by the companies were not sufficient to alleviate the competition concerns raised by the Authority.
Cargotecin and the Konecranes merger has been canceled. The companies said in the morning that the deal had been blocked by the UK competition authority.
According to Konecranes, the British Competition and Market Authority (CMA) blocked the deal in its final report on Tuesday.
According to the report, the measures offered by the companies were not sufficient to alleviate the competition concerns raised by the CMA.
“Consequently, the planned merger between Konecranes and Cargotec cannot be implemented. The completion of the proposed merger would have required the approval of all relevant competition authorities. As a result, Konecranes and Cargotec have today agreed to cancel the proposed merger, ”Konecranes writes in a statement.
The news is being updated.
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