Cargotec Corporation / Konecranes Plc Merger Inquiry

The CMA is investigating the anticipated merger of Cargotec Corporation and Konecranes Plc

• From: Competition and Markets Authority
• Published: 1 June 2021
• Last updated: 1 April 2022 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Building and construction
• Outcome: Mergers - phase 2 prohibition
• Opened: 28 May 2021
• Closed: 1 April 2022

Phase 2

Administrative timetable

Date of reference: 13 July 2021

Statutory deadline: 1 April 2022

• Administrative Timetable (4.3.22)

Contact

[email protected]

Merger reference cancelled

1.4.22: The CMA has cancelled its investigation into the anticipated merger between Cargotec and Konecranes.

• Cancellation of merger reference (1.4.22)

Final report

29 March 2022: The CMA has prohibited the merger between Cargotec Corporation and Konecranes Plc after finding, in its in-depth investigation, that this merger may be expected to give rise to competition concerns in the supply of a wide range of container handling equipment products. The final report and appendices will be published shortly.

• Final report (31.3.22)
• Appendices and glossary (31.3.22)
• Summary of final report (29.3.22)
• Press release: CMA blocks planned Cargotec / Konecranes merger (29.3.22)

Responses to provisional findings and possible remedies

• Response to provisional findings (10.1.22)
• Assessment of the provisional findings’ analysis of the parties’ bidding data (10.1.22)
• Response to notice of possible remedies (10.1.22)
• TICO (10.1.22)

Notice of extension of statutory period

• Notice of extension (26.11.21)

Provisional findings

26 November 2021: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated merger between Cargotec Corporation and Konecranes Plc.

• Provisional findings (29.11.21)
• Appendices and glossary (29.11.21)
• Summary of provisional findings (26.11.21)
• Notice of provisional findings (26.11.21)
• Notice of possible remedies (26.11.21)
• Press notice: Port equipment merger raises competition concerns (26.11.21)

Termination of extension of inquiry period

• Notice of termination of extension under Section 39(8) (Cargotec) (22.9.21)
• Notice of termination of extension under Section 39(8) (Konecranes) (22.9.21)

Notice of extension of inquiry period

• Notice of extension under Section 39(4) (Cargotec) (12.8.21)
• Notice of extension under Section 39(4) (Konecranes) (12.8.21)

Issues statement

6 August 2021: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm, Monday 16 August 2021.

• Issues statement (6.8.21)
• Response to issues statement (2.9.21)

Response to phase 1 decision

• Response to phase 1 decision (6.8.21)

Inquiry group appointed

14 July 2021: The CMA has appointed the inquiry group:

Martin Coleman (Chair), Jo Armstrong, Cyrus Mehta and Crispin Wright.

Terms of reference

13 July 2021: The CMA referred the anticipated merger between Cargotec Corporation and Konecranes Plc for an in-depth phase 2 investigation.

• Terms of reference (13.7.21)

Phase 1

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Statutory timetable

Phase 1	Action
13 July 2021	Phase 1 decision announced
28 May 2021	Launch of merger inquiry
1 June to 11 June 2021	Invitation to Comment

Reference decision

13 July 2021: The CMA has referred the anticipated merger between Cargotec Corporation and Konecranes Plc for an in-depth phase 2 investigation under its fast track procedure at the request of the merging parties.

• Decision to refer (27.7.21)

Launch of merger inquiry

28 May 2021: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (1.6.21)

Invitation to comment now closed

1 June 2021: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

Published 1 June 2021
Last updated 1 April 2022 + show all updates

1. 1 April 2022

   Cancellation of merger reference published.

2. 31 March 2022

   Final report, appendices and glossary published.

3. 29 March 2022

   Summary of Final Report published.

4. 4 March 2022

   Update to the administrative timetable.

5. 10 January 2022

   Responses to provisional findings and possible remedies published.

6. 29 November 2021

   Provisional findings with appendices and glossary published.

7. 26 November 2021

   Provisional findings and Notice of extension of statutory period published. The Administrative timetable has also been updated.

8. 22 September 2021

   Administrative timetable updated and notices of termination of extension published.

9. 2 September 2021

   Parties' response to issues statement published.

10. 12 August 2021

    Notice of extensions of inquiry period published

11. 6 August 2021

    Issues statement and response to phase 1 decision published.

12. 27 July 2021

    Full text of the reference decision published.

13. 21 July 2021

    Administrative timetable updated.

14. 14 July 2021

    Inquiry group appointed.

15. 13 July 2021

    Reference decision and terms of reference document published.

16. 1 June 2021

    First published.