Kone Deal Structure for TK Elevator Buy Is Better Than Expected -- Market Talk

Dow Jones04-30

1039 GMT - Kone's deal structure for the acquisition of TK Elevator seems better than expected, Citi analyst Vivek Midha writes. The price is within the range Citi had expected that still enables EPS accretion, while no rights issue removes some risk for public investors. Antitrust approval remains a key item going forward though, the analyst writes. Kone announced an agreement to acquire TK Elevator in a deal valued at 29.4 billion euros, including debt. The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

April 30, 2026 06:39 ET (10:39 GMT)

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The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. 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