Cargotec Corporation - Konecranes Plc

Acquirer(s)

  • Cargotec Corporation

Target(s)

  • Konecranes Plc

Summary

Cargotec Corporation (Cargotec) proposed to merge with Konecranes Plc (Konecranes).

In Australia, Cargotec’s Kalmar business and Konecranes’ Port Solutions business both supply container handling products and services (including cranes, horizontal transport equipment, mobile equipment, aftersales services and terminal consultancy services) to terminal operators.

Draft undertakings

Market inquiries

Statement of issues

Timeline

DateEvent
05/08/2021ACCC commenced review under the Merger Process Guidelines.
27/08/2021Closing date for submissions.
28/10/2021ACCC published a Statement of Issues outlining preliminary competition concerns.
19/11/2021Closing date for submissions relating to Statement of Issues.
15/02/2022ACCC is awaiting information from the parties. Former provisional date for announcement of findings (17 February 2022) is delayed.
24/02/2022ACCC commenced market consultation on proposed s87B undertakings.
10/03/2022Closing date for submissions relating to the draft proposed divestment undertaking.
30/03/2022ACCC discontinued its public review after Cargotec and Konecranes withdrew their application for informal merger clearance.