Authorities O.K. Maersk Sealand takeover of P&O Nedlloyd

Authorities O.K. Maersk Sealand takeover of P&O Nedlloyd    The European Commission and the U.S. Justice Department Friday both green-lighted A.P. Moller-Maersk’s proposed 2.3 billion euros ($3 billion) acquisition of Royal P&O Nedlloyd.
   A.P. Moller-Maersk agreed to withdraw P&O Nedlloyd from the Europe/South Africa trade as well as from some of its existing conferences and consortia agreements involving Europe, in order to satisfy EC requests.
   The waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired without further action being requested by the Justice Department.
   The Danish group has so far purchased more than 40 percent of Royal P&O Nedlloyd’s capital ahead of the completion of its formal bid, which was launched in June.
   Maersk Sealand has said it is considering a new brand name for the merged company, and that it is uncertain if liner services will be operated independently or remain in consortia such as the Grand Alliance.