Kone (KNEBV) to Acquire TK Elevator (TKE) in $34.4 Billion Deal
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowFinland's Kone (KNEBV) has agreed to acquire TK Elevator (TKE) in a deal valued at 29.4 billion euros ($34.4 billion). This transaction is one of Europe's largest takeover agreements and will create the world's largest elevator manufacturer. Kone expects annual run-rate synergies of 700 million euros following the merger. Kone shareholders holding over 40% of outstanding shares have agreed to support the deal, although it may face antitrust scrutiny, particularly from rival Schindler. Shares of Thyssenkrupp rose 14% following the announcement.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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