In a move highlighting Brussels officials’ willingness to go where other antitrust enforcers won’t, the European Commission has halted a merger between the world’s largest and second-largest shipbuilding companies over competition concerns.
According to the EU competition enforcer, Hyundai Heavy Industries Holding’s acquisition of Daewoo Shipbuilding and Marine Engineering would have resulted in “less choice, higher prices and ultimately less innovation for European customers”, EU competition chief Margrethe Vestager said in a statement.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]