The European Commission has approved the proposed takeover of CEVA Logistics by French liner CMA CGM.
The commission concluded that the acquisition does not represent a competition issue.
CMA CGM made a $825m bid to take over CEVA at the end of last year, a figure CEVA’s board has since rejected claiming it is undervalued. The French line has still managed to grow its stake in CEVA to just over 50%.
Last October, CEVA rejected a takeover bid from Danish rival 3PL, DSV.