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KONE STRIKES $34 BILLION DEAL TO BUY TKE AND CREATE WORLD'S LARGEST LIFT MAKER

  • NEWS Desk Global
  • 2 hours ago
  • 1 min read

Finnish lift maker Kone has agreed to buy German rival TK Elevator (TKE) in a deal worth 29.4 billion euros ($34.4 billion) that would create the ‌world's largest lift maker.

As the industry grapples with slowing demand in China and seeks growth elsewhere, the deal would propel Kone past U.S. rival Otis, create a European champion and boost its foothold in the Americas, where TKE is stronger.

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