# Finnish regulator approves merger prospectus for Cargotec and Konecranes combination

The Finnish Financial Supervisory Authority has approved the merger prospectus for the combination of Cargotec Corporation and Konecranes Plc through a statutory absorption merger, where Konecranes will be merged into Cargotec. Shareholders of Konecranes will receive Cargotec shares as consideration. The merger is subject to shareholder approval at extraordinary general meetings on 18 December 2020.

- Type: Acquisition
- Announced: 2020-12-03
- Where: Finland
- Status: announced
- Products: cargo handling equipment, cranes, industrial machinery
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Konecranes](https://endata.com/companies/511.md) (target)
- [Cargotec](https://endata.com/companies/1832.md) (acquirer)

## Sources

- [hiab.com](https://www.hiab.com/en/media/newsroom/the-finnish-financial-supervisory-authority-has-approved-the-merger-prospectus-concerning-the-combination-of-cargotec-corporation-and-konecranes-plc), 2020-12-03: "The Finnish Financial Supervisory Authority has approved the merger prospectus concerning the combination of Cargotec Corporation and Konecranes Plc."
- [forkliftnet.com](https://www.forkliftnet.com/news/detail/202101/9306.html), 2021-01-08: "An extraordinary general meeting has approved the merger of Konecranes with Cargotec in accordance with the merger plan signed by the boards of directors of Konecranes and Cargotec on 1 October 2020."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.