Kone Eyes Thyssenkrupp Elevator Deal -Reuters
May 16 2019 - 2:13AM
Dow Jones News
--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
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(END) Dow Jones Newswires
May 16, 2019 01:58 ET (05:58 GMT)
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