EU to block $2 billion shipbuilding merger between South Korea’s Daewoo and Hyundai

EU competition officials are said to be preparing to block a $2-billion merger between South Korea’s Hyundai Heavy and Daewoo Shipbuilding — two of the world’s biggest shipbuilders. There are concerns a tie-up will lead to higher liquefied natural gas prices. The deal has been given the go-ahead in China and Singapore, but still awaits regulatory approval in the EU, Japan and South Korea.

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