Japanese shipping giants discuss merge

The Tokyo Stock Exchange announced on Monday morning that it would suspend stock transactions for Mitsui Engineering & Shipbuilding Co.  and Kawasaki Heavy Industries Ltd.  from 8:20 a.m. in order to confirm whether reports that the companies plan to merge are correct.

The move, however, would not drastically increase the market share of Japanese shipbuilders because they are lagging far behind their Asian rivals in terms of orders.

The two companies are expected to take into consideration multiple integration formats, including an outright merger. But the sources said there remains some wariness within the businesses about any form of integration that could cause delays or setbacks in the procedure.

Sources include: nikkei.com The Japan Times, Reuters

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