What is Kone reportedly close to acquiring?

Kone is reportedly nearing a deal to acquire its German rival, TK Elevator, for approximately 29 billion euros.

What would be the impact of Kone acquiring TK Elevator?

The acquisition would create the world's largest manufacturer of elevators and escalators, surpassing current market leaders Otis and Schindler.

Home / Business and Economy / Kone Nears $34B Deal for Rival TK Elevator

Kone Nears $34B Deal for Rival TK Elevator

Q: What is the valuation of the potential Kone and TK Elevator deal?

The potential deal is valued at approximately 29 billion euros, including debt.

29 Apr

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Summary

Kone is close to acquiring TK Elevator for approximately 29 billion euros.
The deal would create the world's largest elevator manufacturer.
This takeover could be one of Europe's largest this year.

Kone Nears $34B Deal for Rival TK Elevator

Finnish company Kone is reportedly nearing a substantial cash-and-stock acquisition of its German rival, TK Elevator. The deal is valued at approximately 29 billion euros, including debt. This potential merger, which sources suggest could be announced imminently, would create the world's largest manufacturer of elevators and escalators.

The combined entity would surpass current market leaders, Otis and Schindler. This transaction is poised to be one of the largest takeovers in Europe for the current year and marks a historic moment for Finnish corporate acquisitions. Previous attempts at a merger were explored by Kone six years ago, but antitrust concerns led to the withdrawal of a prior offer.