Rumours that Cosco and China Shipping group are to merge have resurfaced, leading to a surge in speculative trading that boosted both companies’ stock prices today.
The two companies were ordered to come up with a merger plan late Thursday, sources told the South China Morning Post.
The companies’ five subsidiaries listed in Shanghai, Shenzhen and Hong Kong all applied for a trading halt after market close on Friday, which they said was to plan “material matters”.
Chinese media reported on April 16 that Beijing was planning to consolidate several of its state-owned giants, which would include the mergers of Cosco, China Shipping Container Lines, China Merchants Group and Sinotrans. The merger of Cosco and CSCL has been mooted for at least the past three years.
Full content: South China Morning Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI