Shares in Thyssenkrupp rose as much as 7.2% on Thursday after Reuters reported F...
BERLIN - Shares in Thyssenkrupp rose as much as 7.2% on Thursday after Reuters reported Finnish company Kone is assessing the viability of a bid for the German conglomerate’s 14 billion euro elevators division.
Thyssenkrupp last week dropped plans to spin off its capital goods business after months of shareholder criticism, and opted instead to list elevators, its most profitable division. “Geographical difference in sales could help ease competition concerns,” Jefferies analysts wrote in a note. Barclays analysts said a deal with Kone would result in 3-4 billion euros of synergies attributable to the German group.
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