Kone Eyes Thyssenkrupp Elevator Deal -Reuters

Date : 05/16/2019 @ 7:13AM
Source : Dow Jones News

Kone Eyes Thyssenkrupp Elevator Deal -Reuters

--Finnish elevator maker Kone Oyj is considering a bid for Thyssenkrupp's elevator group, which could be valued at EUR14 billion, Reuters reports, citing unnamed sources.

--However, such a deal would likely face significant antitrust hurdles and it isn't clear that Kone has the funds to launch an all-cash takeover, Reuters says.

--Thyssenkrupp's shares soared nearly 30% last week after it presented plans to spin off and list the elevator unit, but the stock has since lost most of those gains, following weak quarterly earnings and a slew of downgrades from analysts.

 

Full story: reut.rs/2Yy0ujo

 

Write to Barcelona editors at barcelonaeditors@dowjones.com

 

(END) Dow Jones Newswires

May 16, 2019 01:58 ET (05:58 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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