A €4.5bn ($5bn) planned merger between Konecranes and Cargotec has been abandoned by the Finnish maritime engineering groups after it was blocked by the UK’s Competition and Markets Authority (CMA).
The merger was denied by the CMA on the grounds that it would harm competition in the supply of container handling equipment products.
The European Commission had given the deal conditional approval in February but the two companies said they could not go ahead without approval from all relevant competition authorities.
