KONE Oyj Submits Non-Binding Offer for Thyssenkrupp's Elevator Business
January 28 2020 - 1:24PM
Dow Jones News
By Stephen Nakrosis
Finland's KONE Oyj on Tuesday said it made a non-binding offer
to acquire the elevator technology business of Thyssenkrupp AG
(TKAMY).
KONE said discussions had been held on a non-exclusive
basis.
KONE said its announcement came after recent press coverage, and
added "KONE issues this statement in order to provide clarity to
the markets."
The value of the deal is "reasonably close to the value
circulating in the media," KONE said.
Earlier Tuesday Bloomberg, citing "people with knowledge of the
matter," said KONE and CVC Capital Partners offered $18.7
billion.
A Thyssenkrupp spokesperson couldn't immediately be reached for
comment.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 28, 2020 13:09 ET (18:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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