Mergers & Antitrust Law News

Kone Is Said to Make Highest Bid for Thyssenkrupp Elevators (2)

Jan. 28, 2020, 5:41 PM

Kone Oyj handed in the highest offer for Thyssenkrupp AG’s elevator business, as the Finnish company tries to outbid buyout firms by a wide enough margin to overcome antitrust concerns, people with knowledge of the matter said.

Kone, which has teamed up with CVC Capital Partners, offered around 17 billion euros ($18.7 billion) this week, said the people, who asked not to be identified because discussions are private. Kone confirmed in a statement Tuesday that it made a non-binding bid for Thyssenkrupp’s elevator unit that’s “reasonably close to the value circulating in the media.”

The Kone consortium’s goal has...

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