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Mergers & AcquisitionsMediumUpdated×2•Originally published 28 April 2026•Updated 29 April 2026•

1 min read

Kone Nears $34 Billion Acquisition of Rival TK Elevator in Major Industrial Merger

Key Facts

1Kone is nearing a cash-and-stock deal to purchase its German rival TK Elevator.

2The potential deal is valued at approximately $34 billion according to media reports.

Finnish giant Kone has officially confirmed its agreement to acquire German rival TK Elevator in a landmark transaction valued at 29.4 billion euros ($34.40 billion). The financial structure of the deal includes a 5 billion euro cash payment and the issuance of 270 million new shares. This merger is set to create the world's largest elevator manufacturer, significantly reshaping the global industrial landscape. The deal aims to drive operational synergies and solidify a dominant position in international markets through this strategic mix of capital. Analysts are now shifting their focus toward potential antitrust reviews, given the substantial market share the combined entity will command. This move underscores a major strategic milestone for Kone in its pursuit of global industry leadership.

about 1 month ago

Version History

Version 2about 1 month ago

What changed: Added specific financial structure details, including the cash payment amount and the number of shares issued.

Version 1about 1 month ago

What changed: Updated the story to reflect the confirmed agreement instead of negotiations, specifying the final valuation of 29.4 billion euros and the creation of the world's largest lift maker.