Finland's Kone and private equity firms are battling to buy ThyssenKrupp�...
* A group comprising Advent, Cinven [CINV.UL], the Abu Dhabi Investment Authority and Germany’s RAG foundationA buyout group victory would be Europe’s biggest private equity deal since KKR’s $21.4 billion acquisition of Britain’s Alliance Boots Plc in 2007, according to Refinitiv data.While being the safest option in terms of execution, a flotation is seen as unlikely at this stage as it wouldn’t bring in enough cash.
A sale to Kone runs the risk of a lengthy regulatory review, even when taking into account a plan to sell Thyssenkrupp’s elevator assets in Europe, where overlap is biggest, to CVC [CVC.UL] to try to resolve antitrust risks. It took Linde and Praxair nearly 17 months to get U.S. antitrust approval for a merger, and only following far-reaching remedy sales to CVC and Messer.
Workers fear that a sale to Kone carries a higher risk of job cuts than a sale to private equity. While cost savings are a key for all bidders, Kone needs synergies to justify its higher price tag.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
18 Actually Good Gifts to Get the Cook in Your Life This Valentine’s DayThe Love Industrial Complex is telling you to buy a dozen roses. We're telling you to buy mezcal instead.
Read more »
AirAsia shares plunge after Airbus bribery allegationsShares of Malaysia's AirAsia Group and unit AirAsia X fell on Monday, after...
Read more »
AirAsia shares plunge after Airbus bribery allegationsShares of Malaysia's AirAsia Group and unit AirAsia X fell on Monday, after...
Read more »
Bombardier in talks to sell business-jet unit to Textron: WSJCanada's Bombardier Inc is in talks to sell its business-jet unit to U.S. m...
Read more »
Shannen Doherty Has Stage 4 Breast Cancer: 'I'm Petrified'Shannen Doherty says she's been privately battling the return of her cancer for a year now.
Read more »