Welcome to the Elevator World News Podcast.
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KONE MORE LIKELY TO TAKE OVER THYSSENKRUPP ELEVATOR
The Wall Street Journal recently reported on the “widely rumored” chances KONE will initiate a takeover of thyssenkrupp Elevator. It added that the segment could be sold to the Finnish manufacturer or another rival OEM such as Otis before its initial public offering announced in May (ELENET 787). As its EUR14-billion (US$15.8-billion) potential stock valuation is almost double that of the rest of the parent company, cost savings a merger could bring would be substantial, the source reports. In addition to KONE having long been interested in buying the segment, it is called “underrepresented in North America and strong in China, a weak spot for thysssenkrupp.” Regardless, the projection is that the valuation gap with KONE and Schindler should narrow.
Image credit: Babs Muller from Pixabay.
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