Kone Deal Structure for TK Elevator Buy Is Better Than Expected -- Market Talk

Dow Jones

04/30

1039 GMT - Kone's deal structure for the acquisition of TK Elevator seems better than expected, Citi analyst Vivek Midha writes. The price is within the range Citi had expected that still enables EPS accretion, while no rights issue removes some risk for public investors. Antitrust approval remains a key item going forward though, the analyst writes. Kone announced an agreement to acquire TK Elevator in a deal valued at 29.4 billion euros, including debt. The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

April 30, 2026 06:39 ET (10:39 GMT)

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The price is within the range Citi had expected that still enables EPS accretion, while no rights issue removes some risk for public investors. Antitrust approval remains a key item going forward though, the analyst writes. Kone announced an agreement to acquire TK Elevator in a deal valued at 29.4 billion euros, including debt. The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 30, 2026 06:39 ET (10:39 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kone Deal Structure for TK Elevator Buy Is Better Than Expected -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKone Deal Structure for TK Elevator Buy Is Better Than Expected -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-04-30 18:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1039 GMT - Kone's deal structure for the acquisition of TK Elevator seems better than expected, Citi analyst Vivek Midha writes. The price is within the range Citi had expected that still enables EPS accretion, while no rights issue removes some risk for public investors. Antitrust approval remains a key item going forward though, the analyst writes. Kone announced an agreement to acquire TK Elevator in a deal valued at 29.4 billion euros, including debt. The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 30, 2026 06:39 ET (10:39 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4144","symbol_name":"石油与天然气的储存和运输","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2631163892","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2631163892","pubTimestamp":1777545540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1039 GMT - Kone's deal structure for the acquisition of TK Elevator seems better than expected, Citi analyst Vivek Midha writes. The price is within the range Citi had expected that still enables EPS accretion, while no rights issue removes some risk for public investors. Antitrust approval remains a key item going forward though, the analyst writes. Kone announced an agreement to acquire TK Elevator in a deal valued at 29.4 billion euros, including debt. The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4144":"石油与天然气的储存和运输","TK":"Teekay"},"translate_title":"通力收购TK电梯的交易结构好于预期——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TK":1.5},"content_text":"1039 GMT - Kone's deal structure for the acquisition of TK Elevator seems better than expected, Citi analyst Vivek Midha writes. The price is within the range Citi had expected that still enables EPS accretion, while no rights issue removes some risk for public investors. Antitrust approval remains a key item going forward though, the analyst writes. Kone announced an agreement to acquire TK Elevator in a deal valued at 29.4 billion euros, including debt. The cash and stock deal is guided to be accretive to EPS in year one, with an accelerating trajectory. This is driven by 700 million euros in pretax synergies by year three. The pro forma net debt-to-Ebitda ratio of 4 is above Citi's assumption, but not that concerning given the cash-generative profile of the group. Kone shares fall 0.4%. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 30, 2026 06:39 ET (10:39 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}