Shipping Container Suppliers Abandon $987 Million Deal After US Probe
WASHINGTON —Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges.
China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller —Maersk’s refrigerated containers maker for $987.3 million.
The U.S. Justice Department said the deal would have combined two of the world’s four suppliers of refrigerated shipping containers and further concentrated the global cold supply chain.
The Justice Department said it “would also have consolidated control of over 90 percent of insulated container box and refrigerated shipping container production worldwide in Chinese state-owned or state-controlled entities.”…