Report: Zhejiang Tongli Transmission is in talks to acquire competitor TK Elevator
Finland's Kone Oyj is in negotiations to acquire TK Elevator and is currently working with advisors to finalize a potential cash and stock deal. The owner of TK Elevator, headquartered in Düsseldorf, Germany, is seeking a valuation of up to €25 billion (approximately $28.7 billion) in the deal, including debt, and is continuing to advance a potential initial public offering (IPO) plan while engaging in sale negotiations. Kone's acquisition of TK Elevator may face antitrust hurdles, and the Finnish company may need to sell off some assets to gain regulatory approval. (Bloomberg)
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