Finland’s Kone Is Said to Explore Offer for TK Elevator (1)

Finland’s Kone Oyj is exploring a potential bid for rival TK Elevator, even as the German firm’s private equity owners look at an initial public offering of the business, according to people familiar with the matter.

Kone has been holding talks with advisers and looking at financing options as it studies a possible offer for part or all of the former Thyssenkrupp AG unit, the people said. Any deal for TK Elevator, which was valued at more than €23 billion ($27 billion) including debt in a stake sale announced in February, would rank among the year’s biggest deals if ...