On Friday, Reuters exclusively reported that Finland’s Konecranes and Cargotec were set to take a step closer to creating a global leader in industrial machinery with conditional EU antitrust approval for their 4.5-billion-euro ($5.1 billion) tie-up. The companies, which provide road and sea-cargo handling machinery and services to industries, factories, ports and terminals, announced the deal in October last year but subsequently faced opposition from the European Commission. Konecranes and Cargotec last month offered to sell assets to address the EU competition enforcer’s concerns that the merger may curb competition and push up prices.
Business & Finance
Reuters exclusively reports Konecranes, Cargotec to get EU okay for $5.1 billion deal; market reacts
04 February 2022, 3:18 pm. 1 minute
Shares in Konecranes were up 8% and up over 6% for Cargotec Monday morning following the report.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceEquities
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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