Kone shareholders back 34 billion dollar TKE takeover
Kone shareholders have approved the 34.2 billion dollar acquisition of German rival TK Elevator to create the world's largest lift group. The deal now faces regulatory scrutiny as the company begins integration planning for the combined entity.
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KONE OYJ-B shareholders approved the $34 billion acquisition of Germany-based TK Elevator on June 3. The deal creates the world’s largest lift group, surpassing its primary rival in the United States. This merger consolidates a highly concentrated market and marks Europe's largest private equity sell-side deal since 1980.
