{"id":1621394,"date":"2022-08-25T18:34:44","date_gmt":"2022-08-25T22:34:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1621394"},"modified":"2022-08-25T18:34:55","modified_gmt":"2022-08-25T22:34:55","slug":"shipping-container-suppliers-abandon-987-million-deal-after-u-s-probe","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shipping-container-suppliers-abandon-987-million-deal-after-u-s-probe\/","title":{"rendered":"Shipping container suppliers abandon $987 million deal after U.S. probe"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fshipping-container-suppliers-abandon-987-million-deal-after-u-s-probe%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1621394&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By David Shepardson<\/p>\n<p>WASHINGTON (Reuters) -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.<\/p>\n<p>China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller \u2013 Maersk\u2019s refrigerated containers maker for $987.3 million.<\/p>\n<p>The U.S. Justice Department said the deal would have combined two of the world\u2019s four suppliers of refrigerated shipping containers and further concentrated the global cold supply chain.<\/p>\n<p>The Justice Department said it \u201cwould also have consolidated control of over 90% of insulated container box and refrigerated shipping container production worldwide in Chinese state-owned or state-controlled entities.\u201d<\/p>\n<p>Assistant Attorney General Jonathan Kanter, who heads the Justice Department\u2019s antitrust division, said the acquisition could have led to \u201chigher prices, lower quality, and less resiliency in global supply chains\u201d and \u201cwould have cemented CIMC\u2019s dominant position in an already consolidated industry and eliminated MCI as an innovative, independent competitor.\u201d<\/p>\n<p>Germany\u2019s Federal Cartel Office said in December it also had opened an investigation into the effects the takeover of Maersk Container Industry (MCI) by CIMC could have on markets.<\/p>\n<p>Maersk said it was \u201cunfortunate\u201d the deal would not move forward, adding it \u201cwill now assess the best structural set-up to ensure the long-term development of the business.\u201d<\/p>\n<p>Founded by Maersk in 1991, MCI employs 2,300 people in China and Denmark.<\/p>\n<p> (Reporting by David ShepardsonEditing by Bill Berkrot)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2741493\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7O0WO-VIEWIMAGE-1.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7O0WO-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By David Shepardson WASHINGTON (Reuters) -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,<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1621394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1621394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1621394"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1621394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1621394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1621394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1621394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}