Cargotec-Konecranes merger cancelled after UK competition regulator blocks deal

Cargotec and Konecranes have cancelled their planned merger after the UK Competition and Markets Authority (CMA) blocked the deal, citing substantial competition concerns even if certain business segments are divested.

Following an investigation, the CMA found that the merger would harm competition in the supply of a wide range of container handling equipment products.

The regulator stated that this loss of competition could have serious consequences for UK port terminals and other customers, including higher prices and lower quality products and services across a wide range of container handling products.