Kone: makes best offer for Thyssenkrupp
(CercleFinance.com) - Kone, with CVC Capital Partners, appears to have made the best offered the best takeover offer for the Thyssenkrupp elevators, Bloomberg says.
The offer would be close to 17 billion euros, it says.
Kone has proposed a 100%-cash offer or an offer with payment in cash and shares, Bloomberg says. The group could pay a cash sum that Thyssenkrupp would have to keep if the authorities were to oppose the deal.
Kone's management yesterday confirmed that they it had submitted a non-binding offer for the acquisition of Thyssenkrupp's Elevator Technology division.
"The value of Kone's non-binding offer is reasonably close to the value circulating in the media," Kone said. "The discussions with thyssenkrupp have been conducted on a non-exclusive basis, and there is no certainty that the discussions will lead to any agreement or transaction."
"Kone's interest towards thyssenkrupp's Elevator Technology business is based on Kone's view regarding the highly complementary geographical footprint of the businesses, substantial value creation on offer from synergies, and joint innovation potential in an operating environment increasingly shaped by digitalization," it added.
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The offer would be close to 17 billion euros, it says.
Kone has proposed a 100%-cash offer or an offer with payment in cash and shares, Bloomberg says. The group could pay a cash sum that Thyssenkrupp would have to keep if the authorities were to oppose the deal.
Kone's management yesterday confirmed that they it had submitted a non-binding offer for the acquisition of Thyssenkrupp's Elevator Technology division.
"The value of Kone's non-binding offer is reasonably close to the value circulating in the media," Kone said. "The discussions with thyssenkrupp have been conducted on a non-exclusive basis, and there is no certainty that the discussions will lead to any agreement or transaction."
"Kone's interest towards thyssenkrupp's Elevator Technology business is based on Kone's view regarding the highly complementary geographical footprint of the businesses, substantial value creation on offer from synergies, and joint innovation potential in an operating environment increasingly shaped by digitalization," it added.
Copyright (c) 2020 CercleFinance.com. All rights reserved.