Kone M&A Speculation on TK Elevator

about 1 month ago

Jamana Bissechi with input from Bloomberg reporter Chloe Malay

"So Kone over in Finland is said to be considering a bid for its rival TK Elevator. An analyst said that this could potentially reshape that global elevator market. And for Kone, it could boost growth and boost margins as well. It's not the first time that Kone has made an approach to TK Elevator. It's – with CVC Capital Partners, they approached the firm back in 2020. But then they eventually dropped out. Now, the reason why they're coming back again is because the private equity owners of TK Elevator are preparing for a potential IPO of the company."

The segment discusses Kone's renewed interest in acquiring rival TK Elevator amid a potential IPO for the latter. The anticipated M&A activity is viewed as a catalyst that could boost Kone's growth and margins, although potential risks such as antitrust scrutiny remain a concern.