Deals
Kone CEO Wants Full Merger With Thyssenkrupp Elevator Unit
- Thyssenkrupp should be part-owner in merged entity: Ehrnrooth
- CEO sees ‘second to none’ fit, solutions to antitrust worries
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Kone Oyj’s Chief Executive Officer Henrik Ehrnrooth wants a full merger with Thyssenkrupp AG’s elevator unit, as the Finnish firm prepares a bid for its German rival’s crown jewel that could thwart interest from private equity.
Ehrnrooth would like Thyssenkrupp to be a major shareholder in the combined entity, he said in an interview with Bloomberg News in Helsinki. He sees significant synergies from a merger and believes potential antitrust hurdles that make the German firm’s management cautious about a deal can be overcome.