Kone Is in Advanced Talks to Acquire TK Elevator, Sources Say

Kone Oyj is in advanced talks to acquire TK Elevator in what’s set to be one of Europe’s biggest takeovers this year, people familiar with the matter said.

The Finnish company is progressing in negotiations with TK Elevator’s private equity backers, Advent and Cinven, and aims to reach a deal by the end of the month, the people said. TK Elevator’s owners have been seeking a valuation of as much as €25 billion ($29.5 billion) including debt in any transaction, Bloomberg News has reported.