Kone's TK Elevator Deal Looks Expensive, Introduces Considerable Risk -- Market Talk

Dow Jones04-29

0809 GMT - Kone's acquisition of TK Elevator looks expensive and introduces considerable risk into what had previously been a clean equity case, RBC Capital Markets analyst Nick Housden writes. The deal value looks somewhat above previous media suggestions of around 25 billion euros, he adds. "It is interesting to us that TKE is being valued ahead of Kone, a company with a long track record of solid growth and operational execution." RBC says the deal economics look good if it provides full benefit for synergies, but there is obvious execution and potentially antitrust risk. "We worry that the Kone equity case--industry-leading growth, strong sales execution and healthy margin expansion--will now, for the next two years or more, be subsumed by the TKE deal." Kone shares rise 1.5%. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

April 29, 2026 04:10 ET (08:10 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2631856783?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-04-29 16:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2631856783","market":"us","top_or_hot":-1,"title":"Kone's TK Elevator Deal Looks Expensive, Introduces Considerable Risk -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0809 GMT - Kone's acquisition of TK Elevator looks expensive and introduces considerable risk into what had previously been a clean equity case, RBC Capital Markets analyst Nick Housden writes. The deal value looks somewhat above previous media suggestions of around 25 billion euros, he adds. \"It is interesting to us that TKE is being valued ahead of Kone, a company with a long track record of solid growth and operational execution.\" RBC says the deal economics look good if it provides full benefit for synergies, but there is obvious execution and potentially antitrust risk. \"We worry that the Kone equity case--industry-leading growth, strong sales execution and healthy margin expansion--will now, for the next two years or more, be subsumed by the TKE deal.\" Kone shares rise 1.5%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 29, 2026 04:10 ET (08:10 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kone's TK Elevator Deal Looks Expensive, Introduces Considerable Risk -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKone's TK Elevator Deal Looks Expensive, Introduces Considerable Risk -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-04-29 16:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0809 GMT - Kone's acquisition of TK Elevator looks expensive and introduces considerable risk into what had previously been a clean equity case, RBC Capital Markets analyst Nick Housden writes. The deal value looks somewhat above previous media suggestions of around 25 billion euros, he adds. \"It is interesting to us that TKE is being valued ahead of Kone, a company with a long track record of solid growth and operational execution.\" RBC says the deal economics look good if it provides full benefit for synergies, but there is obvious execution and potentially antitrust risk. \"We worry that the Kone equity case--industry-leading growth, strong sales execution and healthy margin expansion--will now, for the next two years or more, be subsumed by the TKE deal.\" Kone shares rise 1.5%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 29, 2026 04:10 ET (08:10 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TK","symbol_name":"Teekay","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2631856783","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2631856783","pubTimestamp":1777450200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0809 GMT - Kone's acquisition of TK Elevator looks expensive and introduces considerable risk into what had previously been a clean equity case, RBC Capital Markets analyst Nick Housden writes. The deal value looks somewhat above previous media suggestions of around 25 billion euros, he adds. \"It is interesting to us that TKE is being valued ahead of Kone, a company with a long track record of solid growth and operational execution.\" RBC says the deal economics look good if it provides full benefit for synergies, but there is obvious execution and potentially antitrust risk. \"We worry that the Kone equity case--industry-leading growth, strong sales execution and healthy margin expansion--will now, for the next two years or more, be subsumed by the TKE deal.\" Kone shares rise 1.5%. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TK":"Teekay","BK4144":"石油与天然气的储存和运输"},"translate_title":"通力的TK电梯交易看起来昂贵，带来相当大的风险——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TK":1.5},"content_text":"0809 GMT - Kone's acquisition of TK Elevator looks expensive and introduces considerable risk into what had previously been a clean equity case, RBC Capital Markets analyst Nick Housden writes. The deal value looks somewhat above previous media suggestions of around 25 billion euros, he adds. \"It is interesting to us that TKE is being valued ahead of Kone, a company with a long track record of solid growth and operational execution.\" RBC says the deal economics look good if it provides full benefit for synergies, but there is obvious execution and potentially antitrust risk. \"We worry that the Kone equity case--industry-leading growth, strong sales execution and healthy margin expansion--will now, for the next two years or more, be subsumed by the TKE deal.\" Kone shares rise 1.5%. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 29, 2026 04:10 ET (08:10 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2631856783","isCrawlerRequest":true}