Kone Pursues TK Elevator Deal Under New EU Merger Rules
The Finnish group aims to create a global leader with about 20 billion euros in annual sales. Regulators may require asset sales to approve the transaction.
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KONE OYJ-B is pursuing a merger with TK Elevator to create a global leader with a market value of nearly €49B. This marks the second attempt by the Finland-based group to acquire the former division of THYSSENKRUPP AG. A successful deal would consolidate the European market into three major players and generate €700M in annual savings.
