Finnish lift maker Kone on Wednesday announced the acquisition of its German rival TKE in a huge share-and-cash deal valuing TKE at 29.4 billion euros ($34.4 billion) to create a global giant.
The group formed by the merger will be nearly twice the size of the current Kone group, with more than 100,000 employees in over 100 countries and annual revenue of around 20.5 billion euros, the two companies said in a statement.
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