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Report: CIMC Drops Plan to Acquire Maersk Division After Anti-Trust Concerns Raised
August 31,
2022 by HFBusiness Staff in Business Strategy, Industry 
A major Chinese ocean freight company has abandoned plans to acquire the cold storage container division of shipping giant Maersk after the U.S. Justice Department raised anti-trust concerns, according to a report in the newsletter Supply Chain Dive.
The report said China International Marine Containers (CIMC) had proposed buying the Maersk division for $987.3 million but backed off after the Justice Department concluded the deal would lead to higher prices and a less reliable supply chain.
Justice Department officials said It would have given control of more than 90 percent of the world’s insulated container box and refrigerated shipping container production to Chinese state-owned or state-controlled entities.
To read the full Supply Chain Dive story, click here. https://www.supplychaindive.com/news/acquisition-of-maersk-container-business-falls-through-after-doj-investigation/630718/