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Kone withdrew from Thyssenkrupp elevator deal after risks became too big-CEO
Thyssenkrupp's Staff Expects Clarity On Sale Of Elevator Business By End Of February - Union
Kone Confirms Co Has Submitted Non-Binding Offer To Acquire Thyssenkrupp's Elevator Technology Business
Kone Oyj (KONE) is a Finland-based engineering company that operates within the elevator and escalator business sector. The Companys offers elevators, escalators, autowalks, automatic doors, and monitoring and access control systems through its New Equipment business area, maintenance and equipment performance monitoring solutions through its Maintenance business area, and modernization solutions for equipment, ranging from the replacement of single parts of equipment to full replacement solutions, through its Modernization business. The offer is designed for residential and commercial buildings, public transportation buildings, hotels, retail centers, and medical facilities, among others. The Company is active in approximately 60 countries in Europe, the Middle East and Africa (EMEA), Americas and Asia-Pacific. It operates through a number of subsidiaries in Germany, Spain, the United States, India and China, among others.
P.O. Box 7
Antti Juhani Herlin
Chairman of the Board
President, Chief Executive Officer, Member of the Executive Board
Vice Chairman of the Board
Chief Financial Officer, Member of the Executive Board
Chief Technology Officer, Member of the Executive Board
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By Christoph Steitz, Tom Käckenhoff, Arno Schuetze and Edward Taylor
Finland's Kone <KNEBV.HE> has withdrawn from discussions with its German rival Thyssenkrupp <TKAG.DE> to acquire its elevator technology business, the Finnish company said on Monday.
Finland's Kone has withdrawn from discussions with its German rival Thyssenkrupp to acquire its elevator technology business, the Finnish company said on Monday.
Finland’s Kone may have a sharp private equity-shaped elbow to deploy in the final rush for Thyssenkrupp’s lifts. The world’s third largest elevator operator could sweeten its 17 billion euro offer for its German rival by waiving the need for prior antitrust approval, a...
Swiss elevator maker Schindler <SCHP.S> would embark on an all-out antitrust offensive in the courts to stall any deal to combine Thyssenkrupp's <TKAG.DE> lift division with rival Kone <KNEBV.HE>, board member Alfred Schindler told Reuters.
Finland's Kone <KNEBV.HE> and private equity firms are battling to buy ThyssenKrupp's <TKAG.DE> prized elevator division worth more than 15 billion euros (12.74 billion pounds), a deal which would be Europe's biggest private equity deal in 13 years.
Finland's Kone <KNEBV.HE> has offered about 17 billion euros ($18.9 billion) for Thyssenkrupp's <TKAG.DE> elevator unit, the highest bid so far, drawing scepticism from one of the German group's labor bosses who said price alone would not cut it.
Finland's Kone, one of the contenders to buy the elevator unit of its German rival Thyssenkrupp, has made a bid worth 17 billion euros ($18.9 billion) for the business, a person familiar with the matter told Reuters.
Finland's Kone <KNEBV.HE>, one of the contenders to buy the elevator business of its German rival Thyssenkrupp <TKAG.DE>, is very interested in the unit and sees significant "scale advantages," its CEO said on Tuesday.
Kone <KNEBV.HE> chief executive Henrik Ehrnrooth confirmed on Tuesday the Finnish company's interest in its German rival Thyssenkrupp's <TKAG.DE> elevator business but declined to say whether it had bid or not.
Finland's Kone beat quarterly profit expectations on Tuesday but gave a weak sales outlook for 2020, sending shares in the elevator maker lower.
Thyssenkrupp <TKAG.DE> has shortlisted three private equity consortia in the auction of its prized 15 billion euro ($16.6 billion) elevator business, people close to the matter said, and peer Kone <KNEBV.HE> could still submit a bid later this month.
Thyssenkrupp <TKAG.DE> has shortlisted three private equity consortia in the auction of its prized 15 billion euro (£12.8 billion) elevator business, people close to the matter said, adding that peer Kone <KNEBV.HE> could still submit a bid later this month.
By Arno Schuetze, Edward Taylor, Christoph Steitz and Tom Käckenhoff
Finland's Kone has proposed paying a multi-billion euro breakup fee to Thyssenkrupp in an effort to improve its chances in an auction for the German conglomerate's elevator business, two people familiar with the matter said.
Kone <KNEBV.HE> might sell some parts of Thyssenkrupp's <TKAG.DE> elevator business if the Finnish firm wins an auction to buy it, the CEO of the world's No.3 elevator maker said.
Finnish elevator maker Kone <KNEBV.HE> on Wednesday reported higher than expected quarterly profit, which it attributed to improved pricing and efficiency, and lifted its full-year outlook.
Finnish elevator maker Kone reported higher than expected quarterly profits on Wednesday, which it attributed to improved pricing and efficiency.
Finland's Kone <KNEBV.HE> has submitted a bid for the elevator division of German industrial group Thyssenkrupp <TKAG.DE> that is 1 to 2 billion euros below those by private equity suitors, business daily Handelsblatt reported on Thursday.
Finland's Kone <KNEBV.HE> is open to a co-shareholding structure in a potential deal to merge with Thyssenkrupp's <TKAG.DE> elevator division, its chief executive told Bloomberg News.
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