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Cargotec, Konecranes say merger creates few overlaps and is needed to counter China threat

( August 6, 2021, 13:49 GMT | Official Statement) -- MLex Summary: Cargotec and Konecranes told the UK antitrust regulator in responses to its initial review into their planned merger that their activities are largely complementary and that any overlaps arising would be limited to container handling equipment. The deal would enable them to "create a more efficient cost structure which is necessary to compete effectively in markets increasingly dominated by low-cost and state-backed Chinese competitors," they told the Competition and Markets Authority. The CMA is currently conducting an in-depth probe.The submission is attached....

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